US Bancorp DE reduced its position in shares of POSCO Holdings Inc. (NYSE:PKX – Get Rating) by 44.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,713 shares of the basic materials company’s stock after selling 17,173 shares during the period. US Bancorp DE’s holdings in POSCO were worth $794,000 at the end of the most recent reporting period.
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Several other large investors have also modified their holdings of the company. Captrust Financial Advisors boosted its holdings in shares of POSCO by 56.5% during the 1st quarter. Captrust Financial Advisors now owns 557 shares of the basic materials company’s stock worth $33,000 after buying an additional 201 shares during the period. PNC Financial Services Group Inc. boosted its holdings in POSCO by 3.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,573 shares of the basic materials company’s stock valued at $390,000 after purchasing an additional 239 shares during the period. CWM LLC boosted its holdings in POSCO by 58.4% in the 3rd quarter. CWM LLC now owns 735 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 271 shares during the period. HighTower Advisors LLC boosted its holdings in POSCO by 2.4% in the 1st quarter. HighTower Advisors LLC now owns 12,145 shares of the basic materials company’s stock valued at $722,000 after purchasing an additional 286 shares during the period. Finally, Ronald Blue Trust Inc. bought a new stake in POSCO in the 2nd quarter valued at $32,000. 3.34% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. TheStreet raised shares of POSCO from a “c+” rating to a “b-” rating in a report on Friday, November 18th. StockNews.com cut shares of POSCO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 29th. Finally, JPMorgan Chase & Co. cut shares of POSCO from an “overweight” rating to a “neutral” rating in a research note on Monday, October 24th.
POSCO Trading Up 0.8 %
Shares of PKX stock opened at $61.12 on Friday. POSCO Holdings Inc. has a 52-week low of $36.53 and a 52-week high of $62.67. The stock has a market cap of $18.49 billion, a price-to-earnings ratio of 4.47 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.36 and a current ratio of 2.01. The firm has a fifty day moving average of $55.88 and a 200-day moving average of $48.28.
POSCO (NYSE:PKX – Get Rating) last announced its quarterly earnings data on Monday, October 24th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter. The company had revenue of $15.80 billion during the quarter. POSCO had a net margin of 6.29% and a return on equity of 9.56%. On average, equities research analysts forecast that POSCO Holdings Inc. will post 12.19 earnings per share for the current fiscal year.
About POSCO
POSCO Holdings Inc engages in the production of steel products. It operates through the following divisions: Steel, Engineering & Construction and Trading. The Steel division produces cold rolled, hot rolled and stainless steel products, plates, wire rods and silicon steel sheets. The Engineering & Construction division engages in the planning, designing and construction of industrial plants, civil engineering projects, commercial and residential buildings.
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