POSCO (NYSE:PKX) Sees Unusually-High Trading Volume – Time to Buy?

POSCO Holdings Inc. (NYSE:PKX) saw unusually-high trading volume on Tuesday . Approximately 148,920 shares changed hands during trading, a decline of 22% from the previous session’s volume of 191,229 shares.The stock last traded at $50.84 and had previously closed at $51.70.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of POSCO from a “buy” rating to a “hold” rating in a research note on Thursday, January 2nd.

POSCO Price Performance

The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The stock has a market cap of $16.05 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. The stock’s 50 day moving average price is $45.29 and its two-hundred day moving average price is $53.85.

Hedge Funds Weigh In On POSCO

Several hedge funds and other institutional investors have recently made changes to their positions in PKX. Crossmark Global Holdings Inc. increased its holdings in POSCO by 4.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 6,257 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 249 shares during the last quarter. Ameritas Advisory Services LLC boosted its holdings in POSCO by 13.0% during the 4th quarter. Ameritas Advisory Services LLC now owns 5,612 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 645 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of POSCO during the fourth quarter worth about $29,000. Avior Wealth Management LLC lifted its holdings in POSCO by 49.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company’s stock worth $97,000 after buying an additional 735 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in POSCO by 7.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 11,210 shares of the basic materials company’s stock valued at $486,000 after purchasing an additional 820 shares in the last quarter.

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.