News

Mar 27, 2023

Raymond James Financial Services Advisors Inc. Invests $297,000 in POSCO Holdings Inc. (NYSE:PKX)

Raymond James Financial Services Advisors Inc. acquired a new position in shares

Raymond James Financial Services Advisors Inc. acquired a new position in shares of POSCO Holdings Inc. (NYSE:PKX - Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,450 shares of the basic materials company's stock, valued at approximately $297,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of POSCO by 17.7% during the first quarter. BlackRock Inc. now owns 1,395,026 shares of the basic materials company's stock worth $82,683,000 after acquiring an additional 210,190 shares during the last quarter. State Street Corp increased its holdings in shares of POSCO by 2.1% in the third quarter. State Street Corp now owns 841,473 shares of the basic materials company's stock worth $30,806,000 after acquiring an additional 17,080 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of POSCO by 21.1% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 584,063 shares of the basic materials company's stock worth $21,383,000 after buying an additional 101,900 shares in the last quarter. RWWM Inc. grew its holdings in shares of POSCO by 412.6% during the third quarter. RWWM Inc. now owns 569,113 shares of the basic materials company's stock worth $20,835,000 after buying an additional 458,086 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in POSCO by 2.8% in the first quarter. Vanguard Group Inc. now owns 371,615 shares of the basic materials company's stock valued at $22,026,000 after purchasing an additional 10,142 shares in the last quarter. Institutional investors and hedge funds own 3.34% of the company's stock.

Shares of PKX stock opened at $73.58 on Tuesday. The firm has a market capitalization of $22.26 billion, a P/E ratio of 7.93, a P/E/G ratio of 0.79 and a beta of 1.19. POSCO Holdings Inc. has a twelve month low of $36.53 and a twelve month high of $80.03. The company has a quick ratio of 1.54, a current ratio of 2.20 and a debt-to-equity ratio of 0.27. The stock's fifty day simple moving average is $71.00 and its 200 day simple moving average is $63.30.

A number of research analysts have weighed in on PKX shares. JPMorgan Chase & Co. downgraded POSCO from a "neutral" rating to an "underweight" rating in a research note on Thursday, April 13th. Morgan Stanley cut POSCO from an "overweight" rating to an "equal weight" rating in a research report on Monday, April 3rd. Finally, StockNews.com cut POSCO from a "buy" rating to a "hold" rating in a research report on Monday.

POSCO Holdings Inc engages in the production of steel products. It operates through the following divisions: Steel, Engineering & Construction and Trading. The Steel division produces cold rolled, hot rolled and stainless steel products, plates, wire rods and silicon steel sheets. The Engineering & Construction division engages in the planning, designing and construction of industrial plants, civil engineering projects, commercial and residential buildings.

Want to see what other hedge funds are holding PKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for POSCO Holdings Inc. (NYSE:PKX - Get Rating).

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