POSCO Holdings Inc. (NYSE:PKX) Sees Significant Decrease in Short Interest

POSCO Holdings Inc. (NYSE:PKX) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 623,500 shares, a decline of 19.4% from the February 28th total of 773,400 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 328,500 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

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

POSCO Stock Down 0.2 %

Shares of NYSE:PKX traded down $0.10 during trading on Tuesday, hitting $47.43. 338,648 shares of the company were exchanged, compared to its average volume of 226,497. POSCO has a fifty-two week low of $39.40 and a fifty-two week high of $78.07. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 2.14 and a beta of 1.40. 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 fifty day moving average price of $47.17 and a two-hundred day moving average price of $52.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in POSCO by 1.6% in the 3rd quarter. State Street Corp now owns 781,503 shares of the basic materials company’s stock valued at $54,697,000 after purchasing an additional 12,193 shares during the last quarter. Northern Trust Corp raised its stake in POSCO by 157.0% in the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock valued at $18,613,000 after buying an additional 262,257 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of POSCO by 19.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company’s stock worth $16,672,000 after acquiring an additional 63,336 shares during the period. American Century Companies Inc. boosted 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 during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of POSCO by 0.5% during the 4th quarter. BNP Paribas Financial Markets now owns 254,219 shares of the basic materials company’s stock worth $11,023,000 after acquiring an additional 1,165 shares during the last quarter.

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.