POSCO (NYSE:PKX) Hits New 52-Week Low – Should You Sell?

Shares of POSCO Holdings Inc. (NYSE:PKX) hit a new 52-week low during trading on Wednesday . The company traded as low as $44.83 and last traded at $44.94, with a volume of 346314 shares traded. The stock had previously closed at $45.73.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of POSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

POSCO Stock Down 2.2 %

The firm’s 50-day simple moving average is $55.89 and its 200-day simple moving average is $62.52. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03.

Institutional Trading of POSCO

Several hedge funds have recently modified their holdings of the company. State Street Corp increased its position in POSCO by 1.6% in the third quarter. State Street Corp now owns 781,503 shares of the basic materials company’s stock worth $54,697,000 after purchasing an additional 12,193 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of POSCO by 32.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock valued at $17,711,000 after buying an additional 61,528 shares during the period. Athos Capital Ltd bought a new stake in shares of POSCO in the third quarter worth about $11,373,000. Maven Securities LTD bought a new stake in POSCO during the 3rd quarter worth approximately $10,191,000. Finally, Altrius Capital Management Inc lifted its stake in POSCO by 15.9% in the third quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock valued at $8,571,000 after buying an additional 16,802 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.