Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in POSCO Holdings Inc. (NYSE:PKX)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in POSCO Holdings Inc. (NYSE:PKX - Free Report) by 31.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,176 shares of the basic materials company's stock after selling 147,087 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of POSCO worth $22,479,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. DMC Group LLC increased its stake in shares of POSCO by 1.5% during the second quarter. DMC Group LLC now owns 11,111 shares of the basic materials company's stock valued at $730,000 after purchasing an additional 167 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in POSCO by 1.8% during the second quarter. Sequoia Financial Advisors LLC now owns 10,470 shares of the basic materials company's stock valued at $688,000 after buying an additional 183 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in 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 in the last quarter. 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 worth $268,000 after acquiring an additional 298 shares in the last quarter. Finally, CWM LLC grew its stake in shares of POSCO by 16.3% in the third quarter. CWM LLC now owns 2,331 shares of the basic materials company's stock worth $163,000 after acquiring an additional 327 shares during the last quarter.

POSCO Stock Up 3.7 %

Shares of PKX traded up $1.97 on Thursday, hitting $54.53. 37,841 shares of the stock traded hands, compared to its average volume of 143,358. POSCO Holdings Inc. has a one year low of $49.37 and a one year high of $96.98. The company has a market capitalization of $16.55 billion, a PE ratio of 18.45, a P/E/G ratio of 0.65 and a beta of 1.44. The business has a 50 day simple moving average of $63.62 and a 200 day simple moving average of $65.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of POSCO from a "buy" rating to a "hold" rating in a research note on Wednesday.

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.