POSCO (NYSE:PKX) Shares Gap Up – Here’s Why

POSCO Holdings Inc. (NYSE:PKX) gapped up before the market opened on Thursday . The stock had previously closed at $39.82, but opened at $42.16. POSCO shares last traded at $42.74, with a volume of 64,950 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded POSCO from a “buy” rating to a “hold” rating in a research report on Thursday, January 2nd.

POSCO Stock Down 0.4 %

The firm has a market capitalization of $12.98 billion, a PE ratio of 15.00, a PEG ratio of 1.93 and a beta of 1.39. The company has a fifty day simple moving average of $44.41 and a two-hundred day simple moving average of $55.79. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.95.

Institutional Investors Weigh In On POSCO

A number of hedge funds have recently made changes to their positions in the stock. Parvin Asset Management LLC purchased a new stake in shares of POSCO during the 4th quarter worth $29,000. Northern Trust Corp grew its holdings in POSCO by 157.0% during the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock worth $18,613,000 after acquiring an additional 262,257 shares during the period. Aquatic Capital Management LLC acquired a new stake in POSCO during the fourth quarter worth about $530,000. Stifel Financial Corp grew its holdings in POSCO by 10.1% during the fourth quarter. Stifel Financial Corp now owns 28,967 shares of the basic materials company’s stock worth $1,256,000 after acquiring an additional 2,659 shares during the period. Finally, First Trust Advisors LP purchased a new position in POSCO during the fourth quarter worth approximately $433,000.

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.