POSCO (NYSE:PKX) Sees Strong Trading Volume – Here’s Why

POSCO Holdings Inc. (NYSE:PKX) shares saw an uptick in trading volume on Thursday . 173,379 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 162,952 shares.The stock last traded at $47.56 and had previously closed at $47.68.

Wall Street Analyst Weigh In

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

POSCO Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.59 and a beta of 1.38. The business’s 50 day moving average is $56.81 and its 200 day moving average is $62.90.

Institutional Trading of POSCO

Several large investors have recently added to or reduced their stakes in PKX. Allspring Global Investments Holdings LLC acquired a new stake in shares of POSCO in the third quarter worth $49,000. GAMMA Investing LLC grew its holdings in POSCO by 138.0% during the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 505 shares during the period. CWM LLC lifted its holdings in POSCO by 22.9% in the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 373 shares during the period. Choreo LLC acquired a new stake in shares of POSCO during the 2nd quarter worth approximately $221,000. Finally, Ameritas Advisory Services LLC lifted its stake in shares of POSCO by 7.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 4,084 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 298 shares during the period.

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.