POSCO (NYSE:PKX) Trading Down 3.3% - Time to Sell?

POSCO Holdings Inc. (NYSE:PKX - Get Free Report) traded down 3.3% during trading on Wednesday . The stock traded as low as $46.07 and last traded at $45.88. 117,721 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 226,628 shares. The stock had previously closed at $47.44.

Analyst Upgrades and Downgrades

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

POSCO Trading Down 1.6 %

The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 2.14 and a beta of 1.33. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.93. The business's 50-day simple moving average is $47.21 and its 200-day simple moving average is $52.15.

Hedge Funds Weigh In On POSCO

A number of hedge funds and other institutional investors have recently bought and sold shares of PKX. FMR LLC boosted its position in shares of POSCO by 53.4% in the 3rd quarter. FMR LLC now owns 18,285 shares of the basic materials company's stock worth $1,280,000 after purchasing an additional 6,368 shares during the last quarter. Centiva Capital LP acquired a new position in shares of POSCO during the 3rd quarter worth about $463,000. Janus Henderson Group PLC bought a new stake in shares of POSCO in the 3rd quarter valued at about $3,497,000. Quantinno Capital Management LP raised its position in shares of POSCO by 73.2% in the 3rd quarter. Quantinno Capital Management LP now owns 16,792 shares of the basic materials company's stock valued at $1,175,000 after acquiring an additional 7,095 shares during the period. Finally, State Street Corp boosted its stake in 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 last quarter.

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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.