Cwm LLC Increases Stock Holdings in POSCO Holdings Inc. (NYSE:PKX)

Cwm LLC lifted its stake in shares of POSCO Holdings Inc. (NYSE:PKX) by 13.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,301 shares of the basic materials company’s stock after buying an additional 152 shares during the quarter. Cwm LLC’s holdings in POSCO were worth $124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. increased its stake 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 valued at $27,856,000 after buying an additional 23,668 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of POSCO by 6.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 303,046 shares of the basic materials company’s stock valued at $31,062,000 after acquiring an additional 19,057 shares in the last quarter. CWA Asset Management Group LLC increased its stake 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 worth $7,900,000 after acquiring an additional 16,052 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in POSCO during the third quarter worth about $1,117,000. Finally, O Shaughnessy Asset Management LLC lifted its position in POSCO by 12.5% in the third quarter. O Shaughnessy Asset Management LLC now owns 80,320 shares of the basic materials company’s stock valued at $8,233,000 after purchasing an additional 8,903 shares during the period.

Analysts Set New Price Targets

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

POSCO Stock Performance

Shares of PKX opened at $74.70 on Monday. 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 52-week low of $67.42 and a 52-week high of $133.09. The company has a 50-day simple moving average of $77.13 and a 200-day simple moving average of $83.15.

POSCO (NYSE:PKX) last issued its earnings results on Wednesday, February 21st. The basic materials company reported ($0.52) earnings per share (EPS) for the quarter. The company had revenue of $14.15 billion during the quarter. POSCO had a net margin of 2.09% and a return on equity of 2.50%. On average, analysts predict that POSCO Holdings Inc. will post 4.65 earnings per share for the current year.

POSCO Cuts Dividend

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

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.