Shelton Capital Management Trims Stock Position in POSCO Holdings Inc. (NYSE:PKX)

Shelton Capital Management decreased its stake in POSCO Holdings Inc. (NYSE:PKX) by 12.7% during the second quarter, Holdings Channel reports. The institutional investor owned 4,083 shares of the basic materials company’s stock after selling 595 shares during the quarter. Shelton Capital Management’s holdings in POSCO were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors grew its stake in POSCO by 56.5% in the 1st quarter. Captrust Financial Advisors now owns 557 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 201 shares during the period. Tower Research Capital LLC TRC acquired a new position in POSCO during the first quarter worth about $50,000. CWM LLC grew its stake in POSCO by 29.9% during the 1st quarter. CWM LLC now owns 1,065 shares of the basic materials company’s stock valued at $74,000 after acquiring an additional 245 shares in the last quarter. Resonant Capital Advisors LLC acquired a new stake in POSCO in the 2nd quarter valued at about $212,000. Finally, Wrapmanager Inc. acquired a new position in shares of POSCO during the 1st quarter worth approximately $200,000. 2.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PKX has been the topic of a number of analyst reports. StockNews.com started coverage on POSCO in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Citigroup lowered shares of POSCO from a “buy” rating to a “neutral” rating in a report on Monday, July 24th. UBS Group downgraded shares of POSCO from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 26th. Finally, Morgan Stanley cut shares of POSCO from an “equal weight” rating to an “underweight” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, POSCO has a consensus rating of “Hold”.

POSCO Stock Performance

NYSE PKX opened at $92.43 on Tuesday. The stock has a fifty day simple moving average of $93.64 and a 200-day simple moving average of $91.11. The company has a current ratio of 2.30, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The stock has a market cap of $27.96 billion, a PE ratio of 13.07, a P/E/G ratio of 0.92 and a beta of 1.33. POSCO Holdings Inc. has a twelve month low of $52.60 and a twelve month high of $133.09.

POSCO (NYSE:PKX) last announced its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $1.38 earnings per share for the quarter. The business had revenue of $14.45 billion during the quarter. POSCO had a net margin of 3.63% and a return on equity of 4.35%. Equities analysts anticipate that POSCO Holdings Inc. will post 7.03 earnings per share for the current year.

About POSCO

POSCO Holdings Inc, together with its subsidiaries, manufactures and sells iron and steel rolled products in South Korea and internationally. It operates in two segments Steel and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized steel, electrical steel, stainless steel, and titanium.