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

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

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of POSCO from a “buy” rating to a “hold” rating in a report on Thursday.

POSCO Stock Performance

The business’s 50 day simple moving average is $51.15 and its two-hundred day simple moving average is $60.58. The firm has a market capitalization of $13.43 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 0.58 and a beta of 1.40. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On POSCO

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC increased its holdings in 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. Athos Capital Ltd purchased a new stake in shares of POSCO in the 3rd quarter worth $11,373,000. Janus Henderson Group PLC bought a new position in POSCO in the 3rd quarter worth $3,497,000. Seven Grand Managers LLC purchased a new position in POSCO during the third quarter valued at $1,750,000. Finally, Creative Planning grew its holdings in POSCO by 36.8% during the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock valued at $3,766,000 after purchasing an additional 14,485 shares during the period.

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.