POSCO (NYSE:PKX) Sets New 12-Month Low – What’s Next?

POSCO Holdings Inc. (NYSE:PKX) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $57.41 and last traded at $57.41, with a volume of 21857 shares. The stock had previously closed at $61.44.

Wall Street Analyst Weigh In

Separately, StockNews.com cut POSCO from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd.

POSCO Trading Down 4.7 %

The company has a market cap of $17.24 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 0.72 and a beta of 1.44. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $65.29 and its two-hundred day simple moving average is $66.73.

Hedge Funds Weigh In On POSCO

Several hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in POSCO during the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC acquired a new position in POSCO in the 3rd quarter valued at about $49,000. GAMMA Investing LLC raised its stake in POSCO by 138.0% during the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 505 shares during the last quarter. Advisors Preferred LLC acquired a new stake in POSCO during the 1st quarter worth approximately $107,000. Finally, CWM LLC grew its stake in shares of POSCO by 22.9% in the 2nd quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 373 shares during 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.