PNC Financial Services Group Inc. Boosts Stake in POSCO Holdings Inc. (NYSE:PKX)

PNC Financial Services Group Inc. raised its position in shares of POSCO Holdings Inc. (NYSE:PKX) by 16.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,067 shares of the basic materials company’s stock after purchasing an additional 1,452 shares during the quarter. PNC Financial Services Group Inc.’s holdings in POSCO were worth $436,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in POSCO in the fourth quarter worth $41,000. R Squared Ltd bought a new stake in shares of POSCO in the 4th quarter worth about $46,000. Wilmington Savings Fund Society FSB raised its position in shares of POSCO by 5,312.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,165 shares of the basic materials company’s stock valued at $94,000 after buying an additional 2,125 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of 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, Ameritas Advisory Services LLC grew its position in POSCO by 13.0% in the fourth quarter. Ameritas Advisory Services LLC now owns 5,612 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 645 shares in the last quarter.

POSCO Price Performance

Shares of PKX stock opened at $55.32 on Friday. The stock has a 50 day moving average price of $46.35 and a 200 day moving average price of $53.46. The firm has a market capitalization of $16.79 billion, a P/E ratio of 25.38, a P/E/G ratio of 2.14 and a beta of 1.40. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.93. POSCO Holdings Inc. has a 52-week low of $39.40 and a 52-week high of $81.94.

Wall Street Analyst Weigh In

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

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.