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

POSCO Holdings Inc. (NYSE:PKX)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $44.83 and last traded at $44.94, with a volume of 346314 shares trading hands. The stock had previously closed at $45.73.

Analysts Set New Price Targets

Separately, StockNews.com cut POSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

POSCO Stock Performance

The company’s 50-day moving average is $54.95 and its two-hundred day moving average is $62.27. The company has a market cap of $13.70 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 0.58 and a beta of 1.38. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27.

Institutional Investors Weigh In On POSCO

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of POSCO in the third quarter worth $2,082,000. Jane Street Group LLC grew its stake in shares of POSCO by 2,229.6% during the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock valued at $5,610,000 after buying an additional 76,719 shares during the last quarter. State Street Corp boosted its stake in shares of POSCO by 1.6% during the third quarter. State Street Corp now owns 781,503 shares of the basic materials company’s stock valued at $54,697,000 after purchasing an additional 12,193 shares during the period. Quantinno Capital Management LP increased its position in POSCO by 73.2% during the 3rd quarter. Quantinno Capital Management LP now owns 16,792 shares of the basic materials company’s stock valued at $1,175,000 after purchasing an additional 7,095 shares during the period. Finally, Recurrent Investment Advisors LLC raised its position in shares of POSCO by 46.1% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 14,002 shares of the basic materials company’s stock worth $980,000 after acquiring an additional 4,415 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.