[Alpha Biz= Paul Lee] Kiwoom Securities reported on June 26 that foreign ownership in Hyundai Mobis has seen significant growth in recent years.



Shin Yoon-chul, an analyst at Kiwoom Securities, stated, “Since hitting 33.9% at the end of June 2022, foreign ownership in Hyundai Mobis has reversed course and expanded by more than 9 percentage points over the past three years.” He added, “A comparable case of such sharp growth in foreign stake was observed during the ‘car-chemical-steel (Cha-Hwa-Jeong)’ boom from 2009 to 2011, when foreign ownership rose from 34% to 47%.”



Shin noted that despite an overall unfavorable outlook for the auto sector this year, Hyundai Mobis shares have shown a steady upward trend, even as the sector has remained largely excluded from the broader KOSPI rally following the early presidential election.



“While foreign investors are leading the upward momentum in Hyundai Mobis’ share price, domestic institutional investors have yet to significantly increase their holdings amid concerns about declining earnings in the automobile sector,” he added. “As a result, Hyundai Mobis’ recent stock performance has not stood out in the ongoing rally led by other key sectors.”



He also pointed out that the last public disclosure of a stake change by the National Pension Service (NPS) in Hyundai Mobis was on January 30, 2023. “The NPS’s ownership in Hyundai Mobis dropped from 11.99% on August 31, 2020, to 8.50% on January 30, 2023, and has remained unchanged for more than two years,” he said.

 

 

 

 

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