Grantham Mayo Van Otterloo & Co. LLC Has $21.47 Million Stake in POSCO Holdings Inc. (NYSE:PKX)

Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of POSCO Holdings Inc. (NYSE:PKXGet Rating) by 31.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 482,163 shares of the basic materials company’s stock after purchasing an additional 114,900 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.16% of POSCO worth $21,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PKX. Captrust Financial Advisors grew its holdings in shares of POSCO by 56.5% during the first quarter. Captrust Financial Advisors now owns 557 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 201 shares during the last quarter. Group One Trading L.P. bought a new stake in shares of POSCO during the second quarter worth about $40,000. EverSource Wealth Advisors LLC grew its holdings in shares of POSCO by 617.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,960 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 1,687 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of POSCO by 756.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,586 shares of the basic materials company’s stock worth $153,000 after purchasing an additional 2,284 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of POSCO by 46.8% during the second quarter. BNP Paribas Arbitrage SA now owns 3,731 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 1,190 shares during the last quarter. 3.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PKX. StockNews.com upgraded POSCO from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. cut POSCO from an “overweight” rating to a “neutral” rating in a report on Monday, October 24th. Finally, TheStreet upgraded POSCO from a “c+” rating to a “b-” rating in a report on Friday, November 18th.

POSCO Stock Performance

Shares of PKX stock opened at $54.55 on Thursday. The business’s 50 day simple moving average is $44.40 and its 200 day simple moving average is $47.31. POSCO Holdings Inc. has a one year low of $36.53 and a one year high of $65.11. The stock has a market capitalization of $16.50 billion, a PE ratio of 3.99 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.02 and a quick ratio of 1.33.

POSCO (NYSE:PKXGet Rating) last posted its quarterly earnings results on Thursday, September 15th. The basic materials company reported $3.86 earnings per share (EPS) for the quarter. The firm had revenue of $18.41 billion for the quarter. POSCO had a return on equity of 9.30% and a net margin of 6.29%.

POSCO Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, June 30th were issued a dividend of $0.612 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date was Wednesday, June 29th. POSCO’s payout ratio is 17.92%.

POSCO Profile

(Get Rating)

POSCO Holdings Inc, together with its subsidiaries, manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized sheets, electrical steel, stainless steel, and titanium.

Further Reading

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Institutional Ownership by Quarter for POSCO (NYSE:PKX)

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