POSCO (NYSE:PKX) Sees Strong Trading Volume – Here’s Why

POSCO Holdings Inc. (NYSE:PKX) shares saw unusually-strong trading volume on Monday . Approximately 386,883 shares were traded during trading, an increase of 66% from the previous session’s volume of 233,027 shares.The stock last traded at $43.01 and had previously closed at $44.41.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of POSCO from a “buy” rating to a “hold” rating in a research report on Thursday, January 2nd.

POSCO Price Performance

The company has a market cap of $13.35 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.14 and a beta of 1.33. The stock has a 50-day simple moving average of $47.21 and a 200 day simple moving average of $52.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.93.

Institutional Investors Weigh In On POSCO

A number of institutional investors have recently bought and sold shares of PKX. Jane Street Group LLC lifted its holdings in shares of POSCO by 2,229.6% during the 3rd quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock worth $5,610,000 after acquiring an additional 76,719 shares during the period. Janus Henderson Group PLC acquired a new position in POSCO in the third quarter worth about $3,497,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in POSCO by 19.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company’s stock worth $16,672,000 after purchasing an additional 63,336 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in POSCO by 34.9% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 41,319 shares of the basic materials company’s stock valued at $1,792,000 after purchasing an additional 10,696 shares in the last quarter. Finally, American Century Companies Inc. grew its position in POSCO by 8.2% in the fourth quarter. American Century Companies Inc. now owns 369,394 shares of the basic materials company’s stock valued at $16,017,000 after acquiring an additional 28,124 shares during the period.

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.