Foundry Partners LLC Makes New $3.32 Million Investment in Worthington Steel, Inc. (NYSE:WS)

Foundry Partners LLC bought a new stake in Worthington Steel, Inc. (NYSE:WS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 104,228 shares of the company's stock, valued at approximately $3,317,000. Foundry Partners LLC owned approximately 0.21% of Worthington Steel at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WS. Charles Schwab Investment Management Inc. raised its holdings in Worthington Steel by 12.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 321,296 shares of the company's stock valued at $10,927,000 after buying an additional 36,488 shares in the last quarter. FMR LLC raised its stake in shares of Worthington Steel by 14.4% in the 3rd quarter. FMR LLC now owns 88,973 shares of the company's stock valued at $3,026,000 after acquiring an additional 11,226 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Worthington Steel by 546.5% in the 3rd quarter. Janus Henderson Group PLC now owns 93,480 shares of the company's stock worth $3,179,000 after purchasing an additional 79,021 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Worthington Steel by 35.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company's stock worth $8,948,000 after purchasing an additional 68,792 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Worthington Steel during the third quarter valued at approximately $822,000. Institutional investors and hedge funds own 45.41% of the company's stock.

Remove Ads

Analyst Ratings Changes

Separately, KeyCorp reduced their price objective on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, March 7th.

Worthington Steel Stock Performance

Shares of Worthington Steel stock traded down $1.26 during trading on Thursday, reaching $23.37. The company's stock had a trading volume of 95,332 shares, compared to its average volume of 248,621. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $47.19. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 8.23 and a beta of 2.03. The business's fifty day moving average price is $26.65 and its 200-day moving average price is $33.15.

Worthington Steel (NYSE:WS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The company had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. During the same quarter in the previous year, the business posted $0.99 EPS. The company's revenue was down 14.7% on a year-over-year basis. Sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.16 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.74%. Worthington Steel's dividend payout ratio is currently 29.91%.

Worthington Steel Company Profile

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.