First Trust Direct Indexing L.P. Sells 9,136 Shares of POSCO Holdings Inc. (NYSE:PKX)

First Trust Direct Indexing L.P. lessened its position in shares of POSCO Holdings Inc. (NYSE:PKX) by 33.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,261 shares of the basic materials company’s stock after selling 9,136 shares during the period. First Trust Direct Indexing L.P.’s holdings in POSCO were worth $1,432,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PKX. Bruce G. Allen Investments LLC bought a new position in POSCO during the 4th quarter worth about $25,000. GAMMA Investing LLC bought a new position in shares of POSCO in the 4th quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of POSCO in the 4th quarter valued at about $31,000. CWM LLC grew its holdings in shares of POSCO by 13.2% in the 4th quarter. CWM LLC now owns 1,301 shares of the basic materials company’s stock valued at $124,000 after acquiring an additional 152 shares in the last quarter. Finally, Barometer Capital Management Inc. bought a new position in shares of POSCO in the 4th quarter valued at about $124,000.

POSCO Price Performance

POSCO stock traded up $1.00 during midday trading on Thursday, reaching $67.76. 52,228 shares of the company’s stock were exchanged, compared to its average volume of 98,690. POSCO Holdings Inc. has a 52 week low of $64.99 and a 52 week high of $133.09. The company has a current ratio of 2.03, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $70.05 and its 200 day simple moving average is $77.71.

POSCO (NYSE:PKX) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.22 EPS for the quarter. POSCO had a return on equity of 2.49% and a net margin of 2.09%. The business had revenue of $13.58 billion during the quarter. On average, sell-side analysts forecast that POSCO Holdings Inc. will post 4.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut 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, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.