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

POSCO Holdings Inc. (NYSE:PKX)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $45.39, but opened at $47.03. POSCO shares last traded at $47.61, with a volume of 28,654 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of POSCO from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

POSCO Stock Performance

The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.35. The stock’s 50 day moving average is $45.09 and its 200 day moving average is $46.36. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24.

POSCO (NYSE:PKX) last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). POSCO had a net margin of 1.55% and a return on equity of 1.87%. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.12 billion. Analysts anticipate that POSCO Holdings Inc. will post 3.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of POSCO by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock valued at $20,117,000 after acquiring an additional 154,100 shares in the last quarter. AQR Capital Management LLC grew its position in shares of POSCO by 8.3% during the 1st quarter. AQR Capital Management LLC now owns 6,462 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 495 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of POSCO during the 1st quarter worth approximately $7,814,000. OLD Mission Capital LLC acquired a new position in shares of POSCO during the 1st quarter worth approximately $1,040,000. Finally, Vident Advisory LLC grew its position in shares of POSCO by 25.8% during the 1st quarter. Vident Advisory LLC now owns 45,862 shares of the basic materials company’s stock worth $2,180,000 after purchasing an additional 9,408 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.