POSCO (NYSE:PKX) Sees Strong Trading Volume – What’s Next?

POSCO Holdings Inc. (NYSE:PKX) saw unusually-strong trading volume on Tuesday . Approximately 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.

Analysts Set New Price Targets

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

POSCO Price Performance

The stock has a market cap of $16.05 billion, a PE ratio of 24.11, a P/E/G ratio of 2.14 and a beta of 1.40. The firm’s fifty day moving average price is $45.29 and its 200 day moving average price is $53.85. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On POSCO

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in POSCO by 40.6% during the third quarter. Victory Capital Management Inc. now owns 19,863 shares of the basic materials company’s stock valued at $1,390,000 after purchasing an additional 5,731 shares in the last quarter. Altrius Capital Management Inc boosted its holdings in shares of POSCO by 15.9% in the 3rd quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock worth $8,571,000 after purchasing an additional 16,802 shares during the period. Natixis Advisors LLC increased its position in shares of POSCO by 17.1% during the 3rd quarter. Natixis Advisors LLC now owns 26,599 shares of the basic materials company’s stock valued at $1,862,000 after purchasing an additional 3,884 shares during the last quarter. AM Squared Ltd bought a new position in POSCO during the third quarter valued at $350,000. Finally, West Family Investments Inc. purchased a new position in shares of POSCO during the 3rd quarter worth about $335,000.

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.