Raymond James Financial Services Advisors Inc. Has $251,000 Stock Position in POSCO Holdings Inc. (NYSE:PKX)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of POSCO Holdings Inc. (NYSE:PKX) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,644 shares of the basic materials company’s stock after selling 972 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in POSCO were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new stake in POSCO in the fourth quarter worth approximately $25,000. Paradigm Asset Management Co. LLC lifted its stake in shares of POSCO by 187.5% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 750 shares during the last quarter. Foster Group Inc. acquired a new position in POSCO during the third quarter worth $222,000. Americana Partners LLC bought a new position in POSCO during the third quarter valued at about $254,000. Finally, WESPAC Advisors LLC acquired a new stake in shares of POSCO in the third quarter worth about $550,000.

POSCO Price Performance

Shares of POSCO stock opened at $71.54 on Wednesday. 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 simple moving average of $78.75 and a 200-day simple moving average of $84.37. The company has a current ratio of 2.11, a quick ratio of 1.48 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $21.64 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.05 and a beta of 1.44.

POSCO (NYSE:PKX) last issued its quarterly earnings results on Wednesday, February 21st. The basic materials company reported ($0.52) earnings per share (EPS) for the quarter. POSCO had a net margin of 2.45% and a return on equity of 3.02%. The business had revenue of $14.15 billion during the quarter. On average, sell-side analysts expect that POSCO Holdings Inc. will post 4.79 earnings per share for the current year.

POSCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be given a $0.4726 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.89 annualized dividend and a yield of 2.64%. POSCO’s dividend payout ratio is 31.09%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised POSCO from a “hold” rating to a “buy” rating in a report on Thursday, April 18th.

About POSCO

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.