POSCO (NYSE:PKX) Sees Strong Trading Volume – Still a Buy?

POSCO Holdings Inc. (NYSE:PKX) saw unusually-strong trading volume on Wednesday . Approximately 60,590 shares traded hands during mid-day trading, a decline of 58% from the previous session’s volume of 144,992 shares.The stock last traded at $53.54 and had previously closed at $53.93.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered POSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

POSCO Trading Down 0.9 %

The company’s 50 day simple moving average is $62.45 and its two-hundred day simple moving average is $64.97. The company has a market capitalization of $16.22 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27.

Institutional Trading of POSCO

Several institutional investors and hedge funds have recently bought and sold shares of PKX. Seven Grand Managers LLC acquired a new stake in shares of POSCO in the 3rd quarter worth $1,750,000. CWM LLC boosted its position in POSCO by 22.9% during the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after acquiring an additional 373 shares during the last quarter. Creative Planning lifted its position in POSCO by 36.8% during the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock worth $3,766,000 after buying an additional 14,485 shares during the period. GAMMA Investing LLC boosted its position in shares of POSCO by 138.0% in the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 505 shares during the last quarter. Finally, Altrius Capital Management Inc boosted its holdings in POSCO by 15.9% in the third quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock valued at $8,571,000 after acquiring an additional 16,802 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.