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Jan 05, 2024

Oversea Chinese Banking CORP Ltd Takes Position in POSCO Holdings Inc. (NYSE:PKX)

Oversea Chinese Banking CORP Ltd purchased a new stake in POSCO Holdings Inc.

Oversea Chinese Banking CORP Ltd purchased a new stake in POSCO Holdings Inc. (NYSE:PKX - Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,655 shares of the basic materials company's stock, valued at approximately $2,977,000.

Other large investors have also made changes to their positions in the company. Captrust Financial Advisors lifted its holdings in POSCO by 56.5% in the first quarter. Captrust Financial Advisors now owns 557 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. Boston Partners lifted its stake in POSCO by 2.4% during the fourth quarter. Boston Partners now owns 10,054 shares of the basic materials company's stock worth $548,000 after purchasing an additional 233 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in POSCO by 3.8% during the first quarter. PNC Financial Services Group Inc. now owns 6,573 shares of the basic materials company's stock worth $390,000 after purchasing an additional 239 shares in the last quarter. Towle & Co lifted its stake in POSCO by 2.3% during the third quarter. Towle & Co now owns 10,630 shares of the basic materials company's stock worth $389,000 after purchasing an additional 240 shares in the last quarter. Finally, Ronald Blue Trust Inc. lifted its stake in POSCO by 22.3% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,567 shares of the basic materials company's stock worth $57,000 after purchasing an additional 286 shares in the last quarter. 3.34% of the stock is currently owned by hedge funds and other institutional investors.

PKX has been the topic of a number of research reports. StockNews.com cut POSCO from a "buy" rating to a "hold" rating in a research note on Monday. Morgan Stanley cut POSCO from an "overweight" rating to an "equal weight" rating in a research note on Monday, April 3rd. Finally, JPMorgan Chase & Co. cut POSCO from a "neutral" rating to an "underweight" rating in a research note on Thursday, April 13th.

NYSE:PKX traded up $0.58 during trading hours on Thursday, hitting $74.98. The company's stock had a trading volume of 14,499 shares, compared to its average volume of 258,643. The stock has a market capitalization of $22.68 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 0.80 and a beta of 1.19. The stock has a fifty day moving average of $71.37 and a 200-day moving average of $63.52. The company has a current ratio of 2.20, a quick ratio of 1.54 and a debt-to-equity ratio of 0.27. POSCO Holdings Inc. has a 52-week low of $36.53 and a 52-week high of $80.03.

POSCO Holdings Inc engages in the production of steel products. It operates through the following divisions: Steel, Engineering & Construction and Trading. The Steel division produces cold rolled, hot rolled and stainless steel products, plates, wire rods and silicon steel sheets. The Engineering & Construction division engages in the planning, designing and construction of industrial plants, civil engineering projects, commercial and residential buildings.

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