Confluence Investment Management LLC Invests $489,000 in POSCO Holdings Inc. (NYSE:PKX)

Confluence Investment Management LLC bought a new position in POSCO Holdings Inc. (NYSE:PKX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,235 shares of the basic materials company’s stock, valued at approximately $489,000.

Several other institutional investors have also recently made changes to their positions in PKX. Segantii Capital Management Ltd bought a new stake in shares of POSCO in the 4th quarter worth $5,543,000. Nomura Holdings Inc. purchased a new position in shares of POSCO in the 4th quarter worth about $2,810,000. American Century Companies Inc. boosted its holdings in shares of POSCO by 9.5% in the 3rd quarter. American Century Companies Inc. now owns 271,763 shares of the basic materials company’s stock worth $27,856,000 after buying an additional 23,668 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of POSCO by 6.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 303,046 shares of the basic materials company’s stock worth $31,062,000 after buying an additional 19,057 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in shares of POSCO by 26.3% in the 3rd quarter. CWA Asset Management Group LLC now owns 77,073 shares of the basic materials company’s stock worth $7,900,000 after buying an additional 16,052 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of POSCO from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

POSCO Stock Down 1.3 %

Shares of NYSE:PKX traded down $0.88 during midday trading on Tuesday, reaching $67.01. The company had a trading volume of 43,368 shares, compared to its average volume of 103,670. POSCO Holdings Inc. has a 52-week low of $66.69 and a 52-week high of $133.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.03 and a quick ratio of 1.42. The company’s 50 day moving average price is $71.15 and its 200 day moving average price is $79.56.

POSCO (NYSE:PKX) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.22 EPS for the quarter. The business had revenue of $13.58 billion for the quarter. POSCO had a net margin of 2.09% and a return on equity of 2.49%. On average, equities analysts expect that POSCO Holdings Inc. will post 4.7 earnings per share for the current year.

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.