JPMorgan Chase & Co. Sells 13,045 Shares of POSCO Holdings Inc. (NYSE:PKX)

JPMorgan Chase & Co. trimmed its position in POSCO Holdings Inc. (NYSE:PKX - Free Report) by 65.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,861 shares of the basic materials company's stock after selling 13,045 shares during the quarter. JPMorgan Chase & Co.'s holdings in POSCO were worth $480,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. State Street Corp boosted its stake in shares of POSCO by 1.6% during the 3rd quarter. State Street Corp now owns 781,503 shares of the basic materials company's stock worth $54,697,000 after acquiring an additional 12,193 shares during the period. BNP Paribas Financial Markets boosted its position in POSCO by 32.1% during the third quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company's stock worth $17,711,000 after purchasing an additional 61,528 shares during the period. Athos Capital Ltd acquired a new position in shares of POSCO in the third quarter valued at $11,373,000. Maven Securities LTD bought a new position in shares of POSCO in the third quarter valued at about $10,191,000. Finally, Altrius Capital Management Inc lifted its stake in shares of POSCO by 15.9% during the 3rd quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company's stock worth $8,571,000 after buying an additional 16,802 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of POSCO from a "buy" rating to a "hold" rating in a research report on Thursday, January 2nd.

POSCO Stock Performance

PKX traded down $1.81 during trading on Friday, hitting $44.46. The stock had a trading volume of 283,640 shares, compared to its average volume of 171,404. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.95 and a quick ratio of 1.35. The company has a 50 day moving average price of $46.17 and a 200-day moving average price of $57.29. POSCO Holdings Inc. has a one year low of $42.35 and a one year high of $86.52. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 0.40 and a beta of 1.40.

POSCO (NYSE:PKX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter. POSCO had a net margin of 1.78% and a return on equity of 2.15%. The company had revenue of $13.53 billion during the quarter. As a group, research analysts predict that POSCO Holdings Inc. will post 4.25 EPS for the current year.

POSCO Company Profile

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.