Rhumbline Advisers Cuts Stock Position in POSCO Holdings Inc. (NYSE:PKX)

Rhumbline Advisers lessened its stake in POSCO Holdings Inc. (NYSE:PKX) by 21.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,804 shares of the basic materials company’s stock after selling 10,315 shares during the period. Rhumbline Advisers’ holdings in POSCO were worth $2,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in POSCO in the first quarter valued at about $27,000. GAMMA Investing LLC grew its stake in shares of POSCO by 50.7% during the first quarter. GAMMA Investing LLC now owns 419 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 141 shares during the last quarter. Barometer Capital Management Inc. purchased a new stake in shares of POSCO during the fourth quarter worth about $124,000. Advisors Preferred LLC purchased a new stake in shares of POSCO during the first quarter worth about $107,000. Finally, CWM LLC grew its stake in shares of POSCO by 25.4% during the first quarter. CWM LLC now owns 1,631 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 330 shares during the last quarter.

POSCO Stock Performance

Shares of PKX stock opened at $69.12 on Thursday. POSCO Holdings Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $112.81. 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 stock’s 50-day simple moving average is $64.16 and its 200-day simple moving average is $69.88.

POSCO (NYSE:PKX) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.14 earnings per share for the quarter. POSCO had a return on equity of 2.27% and a net margin of 1.91%. The business had revenue of $13.50 billion for the quarter. As a group, sell-side analysts forecast that POSCO Holdings Inc. will post 4.7 EPS for the current year.

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.