POSCO (NYSE:PKX) Shares Gap Up - Time to Buy?

POSCO Holdings Inc. (NYSE:PKX - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $44.01, but opened at $45.15. POSCO shares last traded at $45.49, with a volume of 18,692 shares.

Analyst Ratings Changes

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

The stock has a 50 day moving average price of $45.41 and a two-hundred day moving average price of $46.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.93. The company has a market capitalization of $13.85 billion, a PE ratio of 20.94, a P/E/G ratio of 2.14 and a beta of 1.36.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its stake in shares of POSCO by 10.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock valued at $162,000 after acquiring an additional 316 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of POSCO by 8.3% in the 1st quarter. AQR Capital Management LLC now owns 6,462 shares of the basic materials company's stock valued at $307,000 after acquiring an additional 495 shares in the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of POSCO by 2.5% in the 1st quarter. Gilman Hill Asset Management LLC now owns 21,564 shares of the basic materials company's stock valued at $1,025,000 after acquiring an additional 535 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of POSCO in the 4th quarter valued at approximately $29,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of POSCO by 6.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,748 shares of the basic materials company's stock valued at $511,000 after acquiring an additional 681 shares in the last quarter.

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.