POSCO (NYSE:PKX) Shares Gap Down - What's Next?
POSCO Holdings Inc. (NYSE:PKX) shares gapped down from $55.32 to $53.05 before closing at $51.98, reflecting a 7% decline. StockNews.com downgraded the stock from "buy" to "hold." The company has a market cap of $15.61 billion, a P/E ratio of 23.56, and a debt-to-equity ratio of 0.24. Recent institutional activity includes increased stakes from several investors. POSCO operates as an integrated steel producer with various segments including steel production and trading.
POSCO Holdings Inc. (NYSE:PKX - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $55.32, but opened at $53.05. POSCO shares last traded at $51.98, with a volume of 424,436 shares.
Wall Street Analyst Weigh In
Separately, StockNews.com cut POSCO from a "buy" rating to a "hold" rating in a research note on Thursday, January 2nd.
View Our Latest Analysis on POSCO
POSCO Trading Down 7.0 %
The business has a 50 day moving average of $46.35 and a two-hundred day moving average of $53.46. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. The firm has a market cap of $15.61 billion, a P/E ratio of 23.56, a PEG ratio of 2.14 and a beta of 1.40.
Institutional Investors Weigh In On POSCO
A number of large investors have recently added to or reduced their stakes in PKX. Crossmark Global Holdings Inc. grew its holdings in POSCO by 4.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 6,257 shares of the basic materials company's stock valued at $271,000 after buying an additional 249 shares in the last quarter. Ameritas Advisory Services LLC grew its holdings in POSCO by 13.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 5,612 shares of the basic materials company's stock valued at $243,000 after buying an additional 645 shares in the last quarter. Parvin Asset Management LLC acquired a new position in POSCO in the 4th quarter valued at $29,000. Avior Wealth Management LLC grew its holdings in POSCO by 49.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company's stock valued at $97,000 after buying an additional 735 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in POSCO by 7.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 11,210 shares of the basic materials company's stock valued at $486,000 after buying an additional 820 shares in the last quarter.
POSCO Company Profile
(Get Free Report)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.
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