The National Pension Service has increased its equity holdings in Hanwha Engine and HYUNDAI WIA this April. The agency sold its shares in HANA Materials.
According to the Financial Supervisory Service's electronic disclosure system (DART) on the 6th, the National Pension Service's Asset Management Headquarters purchased an additional 835,488 shares of Hanwha Engine on the 23rd of last month. The equity stake in Hanwha Engine increased from 10.8% to 11.8%.
Hanwha Engine's main business is manufacturing engines for ships. As the shipbuilding market improves, expectations for Hanwha Engine also grew. The stock price of Hanwha Engine rose 50.5%, from 18,440 won at the beginning of the year to 27,750 won on the 2nd.
The National Pension Service's Asset Management Headquarters expanded its equity stake in HYUNDAI WIA from 8.28% to 9.29%. Concerns are being raised about the business downsizing due to the sale of its machine tool division and the decrease in the operational rate of its Mexican subsidiary.
After HYUNDAI WIA announced its first-quarter results on the 2nd, securities firms lowered their target stock price from 60,500 won to 57,100 won. The closing price of HYUNDAI WIA on the 2nd was 42,450 won.
However, with the production rate of overseas engine manufacturing bases in China and Russia rising and the increase in exports in the defense institutional sector, many believe profitability will improve. It appears that the National Pension Service also sees this as an opportunity for bottom-fishing.
The National Pension Service's Asset Management Headquarters reduced its stake in HANA Materials from 6.09% at the end of last month to 4.93%. It sold more shares than it had increased in February this year. HANA Materials operates in the semiconductor equipment parts business, and a prolonged reduction in production in the upstream industry is expected due to weak demand for memory semiconductors.
As of the end of February, the National Pension Service's Asset Management Headquarters recorded a preliminary fund management revenue of 1.02%. The revenue from domestic stocks was 6.49%, while revenue from overseas stocks was -0.21%.