POSCO (NYSE:PKX) Shares Gap Down – Here’s Why

POSCO Holdings Inc. (NYSE:PKX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $44.75, but opened at $43.80. POSCO shares last traded at $43.66, with a volume of 18,080 shares changing hands.

POSCO Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35. The stock has a market cap of $13.22 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 2.14 and a beta of 1.36. The stock’s 50-day moving average is $46.98 and its 200 day moving average is $47.28.

POSCO (NYSE:PKX) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.12 billion. As a group, analysts predict that POSCO Holdings Inc. will post 3.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC raised its holdings in POSCO by 13.0% in 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 last quarter. Ballentine Partners LLC boosted its stake in POSCO by 20.0% in the fourth quarter. Ballentine Partners LLC now owns 8,054 shares of the basic materials company’s stock valued at $349,000 after acquiring an additional 1,344 shares during the period. Crossmark Global Holdings Inc. increased its position in POSCO by 4.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 6,257 shares of the basic materials company’s stock worth $271,000 after buying an additional 249 shares during the period. Avior Wealth Management LLC lifted its holdings in POSCO by 49.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 735 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in POSCO by 28.3% in the 4th quarter. Blue Trust Inc. now owns 22,137 shares of the basic materials company’s stock worth $960,000 after purchasing an additional 4,887 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.