[Featured Stock] Hyundai Elevator Hits New High on Profitability Improvement Outlook

Hyundai Elevator set a new record high on the 16th, thanks to expectations of improved profitability this year.

As of 9:41 AM on the day, Hyundai Elevator was trading at 69,000 KRW, up 2,300 KRW (3.45%) from the previous trading day. During the session, it rose to 69,800 KRW, marking a new 52-week high.

Investor sentiment surged as Hyundai Elevator is expected to improve its performance this year.

Earlier on the 14th, DS Investment & Securities forecasted that Hyundai Elevator would reach its highest level of profitability in history within the next two years.

Kim Suhyun, a researcher at DS Investment & Securities, explained, "Over the past three years, the price of key raw materials has dropped by 41%, while the selling price has increased by 50%. The price pass-through has begun, and the company has entered the early stage of a turnaround." He also stated, "The sluggish real estate market is more than offset by maintenance growth, which has a margin three times higher than new installations."

Hyundai Elevator's high dividend policy is also cited as a factor boosting its stock price. Researcher Kim said, "Hyundai Holdings' only affiliate is Hyundai Elevator, and there is a high dependence on dividends for debt repayment. It is judged that the current high dividend policy is likely to be maintained for a considerable period."