Van ECK Associates Corp Boosts Stock Holdings in POSCO Holdings Inc. (NYSE:PKX)

Van ECK Associates Corp grew its position in shares of POSCO Holdings Inc. (NYSE:PKX) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,980 shares of the basic materials company’s stock after acquiring an additional 3,275 shares during the quarter. Van ECK Associates Corp’s holdings in POSCO were worth $6,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PKX. Bruce G. Allen Investments LLC purchased a new position in POSCO during the 4th quarter worth $25,000. GAMMA Investing LLC purchased a new position in shares of POSCO in the 4th quarter worth about $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of POSCO in the 4th quarter worth about $31,000. CWM LLC boosted its holdings in shares of POSCO by 13.2% in the 4th quarter. CWM LLC now owns 1,301 shares of the basic materials company’s stock worth $124,000 after buying an additional 152 shares during the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in shares of POSCO in the 4th quarter worth about $124,000.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of POSCO from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

POSCO Stock Up 0.6 %

POSCO stock traded up $0.38 during midday trading on Friday, reaching $68.20. The stock had a trading volume of 61,398 shares, compared to its average volume of 104,133. POSCO Holdings Inc. has a 12 month low of $64.99 and a 12 month high of $133.09. The firm’s 50-day moving average price is $69.99 and its 200 day moving average price is $77.64. The company has a current ratio of 2.03, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26.

POSCO (NYSE:PKX) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter. POSCO had a return on equity of 2.49% and a net margin of 2.09%. The business had revenue of $13.58 billion for the quarter. On average, research analysts predict that POSCO Holdings Inc. will post 4.7 earnings per share for the current fiscal year.

POSCO 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.