Ovata Capital Management Ltd Takes $4.79 Million Position in POSCO Holdings Inc. (NYSE:PKX)

Ovata Capital Management Ltd acquired a new stake in shares of POSCO Holdings Inc. (NYSE:PKX) during the fourth quarter, HoldingsChannel reports. The fund acquired 110,485 shares of the basic materials company’s stock, valued at approximately $4,791,000. POSCO accounts for approximately 1.8% of Ovata Capital Management Ltd’s holdings, making the stock its 16th largest holding.

Several other institutional investors also recently bought and sold shares of the business. Jane Street Group LLC increased its holdings in shares of POSCO by 2,229.6% in the 3rd quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock valued at $5,610,000 after acquiring an additional 76,719 shares during the period. Janus Henderson Group PLC purchased a new position in POSCO in the third quarter valued at about $3,497,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in POSCO by 19.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company’s stock valued at $16,672,000 after purchasing an additional 63,336 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of POSCO by 34.9% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 41,319 shares of the basic materials company’s stock worth $1,792,000 after buying an additional 10,696 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of POSCO by 8.2% during the 4th quarter. American Century Companies Inc. now owns 369,394 shares of the basic materials company’s stock worth $16,017,000 after acquiring an additional 28,124 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

POSCO Trading Down 1.6 %

POSCO stock opened at $44.40 on Friday. POSCO Holdings Inc. has a one year low of $39.40 and a one year high of $75.79. The stock has a market cap of $13.48 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.93. The stock has a 50-day moving average of $47.21 and a two-hundred day moving average of $52.27.

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.