POSCO (NYSE:PKX) Sees Unusually-High Trading Volume – Should You Buy?

POSCO Holdings Inc. (NYSE:PKX) shares saw strong trading volume on Wednesday . 60,590 shares were traded during mid-day trading, a decline of 58% from the previous session’s volume of 144,992 shares.The stock last traded at $53.54 and had previously closed at $53.93.

Analyst Ratings Changes

Separately, StockNews.com cut shares of POSCO from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

POSCO Stock Performance

The firm has a fifty day moving average price of $62.45 and a 200 day moving average price of $64.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. The firm has a market capitalization of $16.22 billion, a PE ratio of 18.93, a P/E/G ratio of 0.67 and a beta of 1.44.

Institutional Investors Weigh In On POSCO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in POSCO by 1.6% in the third quarter. State Street Corp now owns 781,503 shares of the basic materials company’s stock worth $54,697,000 after purchasing an additional 12,193 shares during the period. BNP Paribas Financial Markets increased its stake in shares of POSCO by 32.1% in the third quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock valued at $17,711,000 after buying an additional 61,528 shares in the last quarter. Athos Capital Ltd acquired a new position in shares of POSCO during the third quarter worth approximately $11,373,000. Maven Securities LTD acquired a new stake in shares of POSCO in the 3rd quarter valued at $10,191,000. Finally, Altrius Capital Management Inc lifted its position in POSCO by 15.9% during the 3rd quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock valued at $8,571,000 after purchasing an additional 16,802 shares during the period.

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.