Advisors Asset Management Inc. Sells 6,602 Shares of POSCO Holdings Inc. (NYSE:PKX)

Advisors Asset Management Inc. lowered its position in POSCO Holdings Inc. (NYSE:PKX) by 28.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 16,633 shares of the basic materials company’s stock after selling 6,602 shares during the period. Advisors Asset Management Inc.’s holdings in POSCO were worth $1,164,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PKX. Allspring Global Investments Holdings LLC bought a new stake in shares of POSCO in the third quarter worth about $49,000. GAMMA Investing LLC increased 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 worth $61,000 after purchasing an additional 505 shares in the last quarter. CWM LLC raised its holdings in POSCO by 22.9% during the 2nd quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after buying an additional 373 shares during the period. Choreo LLC bought a new position in POSCO in the second quarter valued at approximately $221,000. Finally, Bayesian Capital Management LP boosted its holdings in shares of POSCO by 23.7% in the first quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock valued at $246,000 after buying an additional 600 shares during the period.

POSCO Stock Up 0.2 %

PKX stock opened at $54.36 on Tuesday. The business has a 50-day moving average of $62.76 and a 200-day moving average of $65.10. POSCO Holdings Inc. has a fifty-two week low of $49.37 and a fifty-two week high of $96.98. The stock has a market capitalization of $16.50 billion, a P/E ratio of 19.07, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of POSCO from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

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.