Vanguard Group Inc. Decreases Stock Position in POSCO Holdings Inc. (NYSE:PKX)

Vanguard Group Inc. decreased its position in shares of POSCO Holdings Inc. (NYSE:PKX) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,129 shares of the basic materials company’s stock after selling 22,933 shares during the period. Vanguard Group Inc.’s holdings in POSCO were worth $33,428,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Citigroup Inc. raised its stake in POSCO by 25.9% during the third quarter. Citigroup Inc. now owns 11,564 shares of the basic materials company’s stock valued at $1,185,000 after purchasing an additional 2,382 shares in the last quarter. American Century Companies Inc. raised its position in shares of POSCO by 9.5% during the 3rd quarter. American Century Companies Inc. now owns 271,763 shares of the basic materials company’s stock valued at $27,856,000 after buying an additional 23,668 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of POSCO during the 3rd quarter valued at about $320,000. Ameriprise Financial Inc. lifted its holdings in shares of POSCO by 2.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,181 shares of the basic materials company’s stock valued at $736,000 after acquiring an additional 156 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in POSCO by 23.8% in the third quarter. AQR Capital Management LLC now owns 7,604 shares of the basic materials company’s stock worth $779,000 after acquiring an additional 1,463 shares in the last quarter.

POSCO Stock Up 1.1 %

Shares of NYSE PKX opened at $73.68 on Friday. POSCO Holdings Inc. has a 1-year low of $67.42 and a 1-year high of $133.09. The business’s 50 day moving average is $80.90 and its two-hundred day moving average is $86.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 1.48.

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 2.45% and a return on equity of 3.02%. The company had revenue of $14.15 billion for the quarter. As a group, analysts anticipate that POSCO Holdings Inc. will post 4.79 earnings per share for the current fiscal year.

POSCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be given a dividend of $0.4726 per share. This represents a $1.89 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, March 28th. POSCO’s dividend payout ratio (DPR) is 31.30%.

POSCO 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.