POSCO (NYSE:PKX) Sees Strong Trading Volume – Time to Buy?

Shares of POSCO Holdings Inc. (NYSE:PKX) saw an uptick in trading volume on Tuesday . 148,920 shares changed hands during trading, a decline of 22% from the previous session’s volume of 191,229 shares.The stock last traded at $50.84 and had previously closed at $51.70.

Analyst Ratings Changes

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

POSCO Price Performance

The firm has a fifty day moving average of $44.95 and a two-hundred day moving average of $53.95. The stock has a market capitalization of $15.25 billion, a P/E ratio of 23.05, a P/E/G ratio of 2.14 and a beta of 1.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35.

Institutional Investors Weigh In On POSCO

Hedge funds have recently modified their holdings of the business. Parvin Asset Management LLC purchased a new stake in POSCO during the fourth quarter worth $29,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in POSCO in the fourth quarter valued at about $41,000. R Squared Ltd bought a new position in POSCO in the fourth quarter worth about $46,000. Wilmington Savings Fund Society FSB lifted its position in shares of POSCO by 5,312.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,165 shares of the basic materials company’s stock valued at $94,000 after buying an additional 2,125 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of POSCO by 49.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company’s stock valued at $97,000 after buying an additional 735 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.