POSCO Holdings Inc. (NYSE:PKX) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its position in shares of POSCO Holdings Inc. (NYSE:PKX) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 74,705 shares of the basic materials company’s stock after selling 5,154 shares during the quarter. Van ECK Associates Corp’s holdings in POSCO were worth $7,105,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. WESPAC Advisors LLC acquired a new stake in POSCO in the third quarter valued at $550,000. Advisor Partners II LLC raised its holdings in POSCO by 25.1% in the third quarter. Advisor Partners II LLC now owns 13,344 shares of the basic materials company’s stock valued at $1,368,000 after acquiring an additional 2,677 shares in the last quarter. Inspire Investing LLC acquired a new stake in POSCO in the third quarter valued at $640,000. Foster Group Inc. acquired a new stake in POSCO in the third quarter valued at $222,000. Finally, Paradigm Asset Management Co. LLC raised its holdings in POSCO by 187.5% in the third quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 750 shares in the last quarter.

POSCO Stock Performance

PKX stock opened at $74.70 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.48 and a debt-to-equity ratio of 0.25. POSCO Holdings Inc. has a 1-year low of $67.42 and a 1-year high of $133.09. The firm has a fifty day moving average price of $77.29 and a two-hundred day moving average price 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 net margin of 2.09% and a return on equity of 2.50%. The business had revenue of $14.15 billion for the quarter. As a group, analysts anticipate that POSCO Holdings Inc. will post 4.65 EPS for the current fiscal year.

POSCO Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Friday, January 1st were paid a dividend of $0.4683 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.87 annualized dividend and a yield of 2.51%. POSCO’s payout ratio is 37.01%.

Wall Street Analyst Weigh In

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

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.