POSCO (NYSE:PKX) Shares Gap Up – Should You Buy?

Shares of POSCO Holdings Inc. (NYSE:PKX) gapped up before the market opened on Thursday . The stock had previously closed at $53.32, but opened at $55.90. POSCO shares last traded at $56.02, with a volume of 136,348 shares changing hands.

Analyst Upgrades and Downgrades

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

POSCO Stock Up 4.1 %

The stock has a market capitalization of $16.85 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. The firm has a 50-day moving average of $46.14 and a 200 day moving average of $53.45. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On POSCO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKX. State Street Corp increased its position in shares of POSCO by 1.6% during the third quarter. State Street Corp now owns 781,503 shares of the basic materials company’s stock worth $54,697,000 after acquiring an additional 12,193 shares during the last quarter. Northern Trust Corp grew its stake in POSCO by 157.0% during the 4th quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock valued at $18,613,000 after purchasing an additional 262,257 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in POSCO by 19.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company’s stock worth $16,672,000 after purchasing an additional 63,336 shares during the last quarter. American Century Companies Inc. raised its position in shares of POSCO by 8.2% in the 4th quarter. American Century Companies Inc. now owns 369,394 shares of the basic materials company’s stock valued at $16,017,000 after purchasing an additional 28,124 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of POSCO by 0.5% during the 4th quarter. BNP Paribas Financial Markets now owns 254,219 shares of the basic materials company’s stock valued at $11,023,000 after buying an additional 1,165 shares during the last quarter.

POSCO Company 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.