POSCO (NYSE:PKX) Sets New 52-Week Low – Time to Sell?

POSCO Holdings Inc. (NYSE:PKX) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $53.86 and last traded at $53.89, with a volume of 18862 shares. The stock had previously closed at $55.46.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of POSCO from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd.

POSCO Price Performance

The stock has a fifty day simple moving average of $65.12 and a 200-day simple moving average of $66.55. The company has a market capitalization of $16.30 billion, a PE ratio of 19.46, a P/E/G ratio of 0.70 and a beta of 1.44. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27.

Institutional Investors Weigh In On POSCO

A number of institutional investors have recently added to or reduced their stakes in PKX. Seven Grand Managers LLC purchased a new position in shares of POSCO in the third quarter valued at $1,750,000. CWM LLC grew its holdings in POSCO by 22.9% during the 2nd quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock valued at $132,000 after buying an additional 373 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of POSCO in the first quarter worth $27,000. Creative Planning lifted its position in shares of POSCO by 36.8% in the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock valued at $3,766,000 after acquiring an additional 14,485 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in POSCO by 138.0% in the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 505 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.