POSCO (NYSE:PKX) Sees Large Volume Increase – What’s Next?

POSCO Holdings Inc. (NYSE:PKX) shares saw an uptick in trading volume on Wednesday . 60,590 shares traded hands during trading, a decline of 58% from the previous session’s volume of 144,992 shares.The stock last traded at $53.54 and had previously closed at $53.93.

Wall Street Analyst Weigh In

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

POSCO Trading Down 0.6 %

The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.67 and a beta of 1.44. The firm’s 50-day moving average is $61.81 and its 200 day moving average is $64.81.

Hedge Funds Weigh In On POSCO

A number of hedge funds have recently modified their holdings of the business. DMC Group LLC raised its position in POSCO by 1.5% during the 2nd quarter. DMC Group LLC now owns 11,111 shares of the basic materials company’s stock worth $730,000 after purchasing an additional 167 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of POSCO by 1.8% during the second quarter. Sequoia Financial Advisors LLC now owns 10,470 shares of the basic materials company’s stock worth $688,000 after acquiring an additional 183 shares during the last quarter. Confluence Investment Management LLC lifted its stake in shares of POSCO by 3.0% in the second quarter. Confluence Investment Management LLC now owns 6,420 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 185 shares during the period. Ameritas Advisory Services LLC boosted its holdings in POSCO by 7.9% in the second quarter. Ameritas Advisory Services LLC now owns 4,084 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 298 shares during the last quarter. Finally, CWM LLC increased its position in POSCO by 16.3% during the 3rd quarter. CWM LLC now owns 2,331 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 327 shares during the period.

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.