West Family Investments Inc. Decreases Position in POSCO Holdings Inc. (NYSE:PKX)

West Family Investments Inc. lowered its stake in POSCO Holdings Inc. (NYSE:PKX) by 23.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,200 shares of the basic materials company’s stock after selling 664 shares during the period. West Family Investments Inc.’s holdings in POSCO were worth $209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in POSCO by 6.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 303,046 shares of the basic materials company’s stock worth $31,062,000 after acquiring an additional 19,057 shares during the last quarter. American Century Companies Inc. lifted its holdings in POSCO by 9.5% in the 3rd quarter. American Century Companies Inc. now owns 271,763 shares of the basic materials company’s stock worth $27,856,000 after buying an additional 23,668 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of POSCO by 12.5% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 80,320 shares of the basic materials company’s stock worth $8,233,000 after buying an additional 8,903 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of POSCO by 8.4% during the third quarter. Van ECK Associates Corp now owns 79,859 shares of the basic materials company’s stock valued at $8,186,000 after buying an additional 6,202 shares during the period. Finally, CWA Asset Management Group LLC raised its holdings in shares of POSCO by 26.3% during the third quarter. CWA Asset Management Group LLC now owns 77,073 shares of the basic materials company’s stock valued at $7,900,000 after acquiring an additional 16,052 shares in the last quarter.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of POSCO from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

POSCO Stock Up 2.1 %

Shares of PKX traded up $1.53 on Friday, reaching $74.70. The stock had a trading volume of 59,915 shares, compared to its average volume of 111,910. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.48 and a current ratio of 2.11. POSCO Holdings Inc. has a 12-month low of $67.42 and a 12-month high of $133.09. The firm has a market capitalization of $22.60 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 0.58 and a beta of 1.46. The company has a 50-day simple moving average of $77.29 and a 200-day simple moving average of $83.41.

POSCO (NYSE:PKX) last released its earnings results on Wednesday, February 21st. The basic materials company reported ($0.52) earnings per share for the quarter. POSCO had a return on equity of 3.02% and a net margin of 2.45%. The business had revenue of $14.15 billion during the quarter. Sell-side analysts predict that POSCO Holdings Inc. will post 4.65 EPS for the current year.

POSCO Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Friday, January 1st were paid a $0.4683 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.87 annualized dividend and a dividend yield of 2.51%. POSCO’s payout ratio is currently 29.41%.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, manufactures and sells iron and steel rolled products in South Korea and internationally. It operates in two segments Steel and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized steel, electrical steel, stainless steel, and titanium.