JPMorgan Chase & Co. Sells 13,045 Shares of POSCO Holdings Inc. (NYSE:PKX)

JPMorgan Chase & Co. lowered its stake in POSCO Holdings Inc. (NYSE:PKX) by 65.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,861 shares of the basic materials company’s stock after selling 13,045 shares during the quarter. JPMorgan Chase & Co.’s holdings in POSCO were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP raised its position in shares of POSCO by 15.6% during the 2nd quarter. Marshall Wace LLP now owns 39,337 shares of the basic materials company’s stock valued at $2,586,000 after purchasing an additional 5,295 shares during the period. Cubist Systematic Strategies LLC increased its stake in POSCO by 43,007.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,035 shares of the basic materials company’s stock worth $397,000 after buying an additional 6,021 shares in the last quarter. Creative Planning lifted its position in shares of POSCO by 2.3% in the second quarter. Creative Planning now owns 39,316 shares of the basic materials company’s stock valued at $2,585,000 after acquiring an additional 899 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 period. Finally, CWM LLC boosted its stake in shares of POSCO by 16.3% in the third quarter. CWM LLC now owns 2,331 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 327 shares during the period.

POSCO Stock Performance

PKX opened at $44.78 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.95. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 0.40 and a beta of 1.40. The company has a fifty day moving average of $46.82 and a 200 day moving average of $57.82. POSCO Holdings Inc. has a fifty-two week low of $42.35 and a fifty-two week high of $86.52.

POSCO (NYSE:PKX) last issued its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.01 earnings per share for the quarter. The firm had revenue of $13.53 billion during the quarter. POSCO had a return on equity of 2.15% and a net margin of 1.78%. As a group, sell-side analysts forecast that POSCO Holdings Inc. will post 4.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

POSCO 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.