POSCO (NYSE:PKX) Shares Gap Up – Still a Buy?

POSCO Holdings Inc. (NYSE:PKX) gapped up prior to trading on Thursday . The stock had previously closed at $49.25, but opened at $50.61. POSCO shares last traded at $51.31, with a volume of 57,658 shares trading hands.

Analyst Ratings Changes

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

POSCO Trading Up 5.6 %

The firm has a 50-day moving average price of $44.78 and a 200-day moving average price of $54.14. 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 stock has a market capitalization of $16.24 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its stake in shares of POSCO by 4.1% during 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 lifted its position in shares of POSCO by 13.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 5,612 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 645 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of POSCO in the fourth quarter worth $29,000. Avior Wealth Management LLC grew its position in shares of POSCO by 49.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 735 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of POSCO by 7.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 11,210 shares of the basic materials company’s stock valued at $486,000 after purchasing an additional 820 shares during the period.

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.