POSCO (NYSE:PKX) Shares Gap Up - Should You Buy?

Shares of POSCO Holdings Inc. (NYSE:PKX - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $60.02, but opened at $62.54. POSCO shares last traded at $62.44, with a volume of 78,337 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of POSCO from a "hold" rating to a "buy" rating in a report on Friday.

POSCO Trading Up 4.4 %

The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 0.45 and a beta of 1.42. The business has a 50-day moving average of $65.86 and a two-hundred day moving average of $67.38.

POSCO (NYSE:PKX - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter. The business had revenue of $13.50 billion for the quarter. POSCO had a return on equity of 2.27% and a net margin of 1.91%. Research analysts predict that POSCO Holdings Inc. will post 4.99 EPS for the current fiscal year.

Institutional Trading of POSCO

Several institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC raised its holdings in shares of POSCO by 9.6% in the 3rd quarter. Ballentine Partners LLC now owns 6,710 shares of the basic materials company's stock worth $470,000 after buying an additional 588 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in POSCO during the third quarter worth $49,000. Blue Trust Inc. raised its stake in POSCO by 152.9% during the third quarter. Blue Trust Inc. now owns 17,250 shares of the basic materials company's stock worth $1,134,000 after acquiring an additional 10,428 shares in the last quarter. Seven Grand Managers LLC acquired a new stake in shares of POSCO in the 3rd quarter valued at $1,750,000. Finally, Creative Planning grew its holdings in shares of POSCO by 36.8% in the 3rd quarter. Creative Planning now owns 53,801 shares of the basic materials company's stock worth $3,766,000 after purchasing an additional 14,485 shares during the last quarter.

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.