POSCO (NYSE:PKX) Hits New 12-Month Low – Here’s Why

POSCO Holdings Inc. (NYSE:PKX)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $42.66 and last traded at $42.92, with a volume of 36603 shares changing hands. The stock had previously closed at $43.36.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut POSCO from a “buy” rating to a “hold” rating in a research note on Thursday.

POSCO Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03. The stock has a fifty day simple moving average of $51.52 and a two-hundred day simple moving average of $60.71. The stock has a market cap of $13.01 billion, a PE ratio of 15.04, a PEG ratio of 0.58 and a beta of 1.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PKX. CWM LLC grew its stake in POSCO by 16.3% during the 3rd quarter. CWM LLC now owns 2,331 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 327 shares in the last quarter. PDS Planning Inc grew its position in shares of POSCO by 11.4% during the third quarter. PDS Planning Inc now owns 4,062 shares of the basic materials company’s stock worth $284,000 after buying an additional 416 shares in the last quarter. Profund Advisors LLC grew its position in shares of POSCO by 5.0% during the second quarter. Profund Advisors LLC now owns 9,174 shares of the basic materials company’s stock worth $603,000 after buying an additional 435 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of POSCO by 138.0% in the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after buying an additional 505 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in POSCO by 9.6% in the third quarter. Ballentine Partners LLC now owns 6,710 shares of the basic materials company’s stock valued at $470,000 after acquiring an additional 588 shares in the last quarter.

About POSCO

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.