Ballentine Partners LLC Acquires 1,344 Shares of POSCO Holdings Inc. (NYSE:PKX)

Ballentine Partners LLC raised its holdings in POSCO Holdings Inc. (NYSE:PKX) by 20.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,054 shares of the basic materials company’s stock after buying an additional 1,344 shares during the quarter. Ballentine Partners LLC’s holdings in POSCO were worth $349,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in POSCO in the third quarter valued at $49,000. GAMMA Investing LLC lifted its position in shares of POSCO by 138.0% in 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 during the period. CWM LLC boosted its stake in shares of 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 in the last quarter. Ameritas Advisory Services LLC increased 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 valued at $243,000 after buying an additional 645 shares during the period. Finally, PDS Planning Inc raised its stake in POSCO by 11.4% in the third quarter. PDS Planning Inc now owns 4,062 shares of the basic materials company’s stock worth $284,000 after buying an additional 416 shares in the last quarter.

Analysts Set New Price Targets

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

POSCO Price Performance

Shares of PKX stock opened at $45.54 on Friday. The business’s fifty day moving average is $47.05 and its 200 day moving average is $58.29. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.23. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.40 and a beta of 1.40. POSCO Holdings Inc. has a twelve month low of $42.35 and a twelve month high of $86.52.

POSCO (NYSE:PKX) last released its earnings results on Wednesday, October 30th. The basic materials company reported $1.01 earnings per share for the quarter. POSCO had a net margin of 1.78% and a return on equity of 2.15%. The firm had revenue of $13.53 billion for the quarter. Research analysts expect that POSCO Holdings Inc. will post 4.25 EPS for the current fiscal year.

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.