Short Interest in POSCO Holdings Inc. (NYSE:PKX) Decreases By 15.8%

POSCO Holdings Inc. (NYSE:PKX - Get Free Report) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,280,000 shares, a decrease of 15.8% from the April 30th total of 1,520,000 shares. Approximately 0.4% of the company's stock are sold short. Based on an average trading volume of 368,600 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in POSCO by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company's stock worth $20,117,000 after acquiring an additional 154,100 shares during the period. AQR Capital Management LLC lifted its holdings in shares of POSCO by 8.3% during the 1st quarter. AQR Capital Management LLC now owns 6,462 shares of the basic materials company's stock worth $307,000 after acquiring an additional 495 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of POSCO in the first quarter worth approximately $7,814,000. OLD Mission Capital LLC acquired a new position in POSCO during the first quarter worth approximately $1,040,000. Finally, Vident Advisory LLC raised its stake in POSCO by 25.8% during the first quarter. Vident Advisory LLC now owns 45,862 shares of the basic materials company's stock worth $2,180,000 after purchasing an additional 9,408 shares during the period.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised POSCO from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

POSCO Price Performance

NYSE PKX traded up $2.23 during mid-day trading on Thursday, hitting $47.62. The stock had a trading volume of 179,681 shares, compared to its average volume of 311,231. The company has a 50 day simple moving average of $45.08 and a 200 day simple moving average of $46.43. The company has a market cap of $14.45 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 2.14 and a beta of 1.36. POSCO has a 52-week low of $39.40 and a 52-week high of $74.01. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24.

POSCO (NYSE:PKX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.12 billion. POSCO had a net margin of 1.55% and a return on equity of 1.87%. Equities analysts forecast that POSCO will post 3.74 EPS for the current fiscal year.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.