POSCO (NYSE:PKX) Shares Gap Down – Here’s Why

POSCO Holdings Inc. (NYSE:PKX)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $62.04, but opened at $60.06. POSCO shares last traded at $60.06, with a volume of 32,035 shares trading hands.

POSCO Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 0.50 and a beta of 1.42. The business’s 50-day simple moving average is $65.89 and its 200-day simple moving average is $67.76.

POSCO (NYSE:PKX) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter. POSCO had a net margin of 1.91% and a return on equity of 2.27%. The company had revenue of $13.50 billion for the quarter. On average, research analysts expect that POSCO Holdings Inc. will post 4.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Seven Grand Managers LLC acquired a new stake in shares of POSCO in the 3rd quarter valued at approximately $1,750,000. CWM LLC increased its stake in POSCO by 22.9% during the 2nd quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 373 shares in the last quarter. Headlands Technologies LLC bought a new stake in POSCO during the 1st quarter worth approximately $27,000. Ballentine Partners LLC increased its stake in POSCO by 13.8% during the 1st quarter. Ballentine Partners LLC now owns 5,261 shares of the basic materials company’s stock worth $413,000 after purchasing an additional 636 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in POSCO by 138.0% during the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 505 shares in the last quarter.

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.