Van ECK Associates Corp Cuts Stock Position in POSCO Holdings Inc. (NYSE:PKX)

Van ECK Associates Corp cut its holdings in shares of POSCO Holdings Inc. (NYSE:PKX) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,705 shares of the basic materials company’s stock after selling 5,154 shares during the period. 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 and hedge funds also recently bought and sold shares of PKX. Bruce G. Allen Investments LLC purchased a new stake in POSCO during the fourth quarter worth about $25,000. GAMMA Investing LLC purchased a new stake in POSCO during the fourth quarter worth about $26,000. Paradigm Asset Management Co. LLC grew its position in shares of POSCO by 187.5% during the third quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the basic materials company’s stock worth $118,000 after buying an additional 750 shares in the last quarter. CWM LLC grew its position in shares of POSCO by 13.2% during the fourth quarter. CWM LLC now owns 1,301 shares of the basic materials company’s stock worth $124,000 after buying an additional 152 shares in the last quarter. Finally, Foster Group Inc. acquired a new position in shares of POSCO during the third quarter worth about $222,000.

Wall Street Analysts Forecast Growth

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

POSCO Stock Up 2.1 %

Shares of POSCO stock opened at $74.70 on Friday. POSCO Holdings Inc. has a one year low of $67.42 and a one year high of $133.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 1.48. The business has a 50-day simple moving average of $77.29 and a 200-day simple moving average of $83.41.

POSCO (NYSE:PKX) last announced its quarterly earnings data on Wednesday, February 21st. The basic materials company reported ($0.52) EPS for the quarter. The company had revenue of $14.15 billion for the quarter. POSCO had a return on equity of 2.50% and a net margin of 2.09%. On average, sell-side analysts forecast that POSCO Holdings Inc. will post 4.65 earnings per share 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 issued a dividend of $0.4683 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Wednesday, February 28th. POSCO’s dividend payout ratio is presently 37.01%.

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.