News

Apr 30, 2023

RWWM Inc. Purchases 181,384 Shares of POSCO Holdings Inc. (NYSE:PKX)

RWWM Inc. lifted its position in shares of POSCO Holdings Inc. (NYSE:PKX - Get

RWWM Inc. lifted its position in shares of POSCO Holdings Inc. (NYSE:PKX - Get Rating) by 31.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 750,497 shares of the basic materials company's stock after purchasing an additional 181,384 shares during the quarter. POSCO accounts for 5.4% of RWWM Inc.'s investment portfolio, making the stock its 7th largest holding. RWWM Inc. owned 0.25% of POSCO worth $40,880,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of POSCO by 17.7% during the first quarter. BlackRock Inc. now owns 1,395,026 shares of the basic materials company's stock valued at $82,683,000 after buying an additional 210,190 shares during the last quarter. State Street Corp boosted its holdings in POSCO by 2.1% during the third quarter. State Street Corp now owns 841,473 shares of the basic materials company's stock worth $30,806,000 after purchasing an additional 17,080 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in POSCO by 21.1% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 584,063 shares of the basic materials company's stock worth $21,383,000 after purchasing an additional 101,900 shares during the last quarter. Vanguard Group Inc. boosted its holdings in POSCO by 2.8% during the first quarter. Vanguard Group Inc. now owns 371,615 shares of the basic materials company's stock worth $22,026,000 after purchasing an additional 10,142 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in POSCO by 48.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 325,212 shares of the basic materials company's stock worth $17,714,000 after purchasing an additional 106,169 shares during the last quarter. Institutional investors and hedge funds own 3.34% of the company's stock.

PKX stock traded down $0.10 during mid-day trading on Wednesday, hitting $74.47. The company had a trading volume of 84,632 shares, compared to its average volume of 260,656. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.54 and a current ratio of 2.20. POSCO Holdings Inc. has a 12 month low of $36.53 and a 12 month high of $80.03. The firm has a market cap of $22.53 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.79 and a beta of 1.19. The stock's fifty day moving average price is $71.19 and its two-hundred day moving average price is $63.44.

Several research analysts recently weighed in on the stock. StockNews.com cut shares of POSCO from a "buy" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. lowered shares of POSCO from a "neutral" rating to an "underweight" rating in a research report on Thursday, April 13th. Finally, Morgan Stanley lowered shares of POSCO from an "overweight" rating to an "equal weight" rating in a research report on Monday, April 3rd.

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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