Allspring Global Investments Holdings LLC Decreases Stake in Worthington Steel, Inc. (NYSE:WS)

Allspring Global Investments Holdings LLC cut its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,403 shares of the company's stock after selling 13,309 shares during the period. Allspring Global Investments Holdings LLC owned about 0.27% of Worthington Steel worth $4,436,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. State Street Corp raised its stake in shares of Worthington Steel by 2.2% during the 3rd quarter. State Street Corp now owns 1,557,031 shares of the company's stock worth $52,955,000 after purchasing an additional 33,534 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Worthington Steel during the 4th quarter worth $41,741,000. Geode Capital Management LLC raised its stake in shares of Worthington Steel by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 771,371 shares of the company's stock worth $26,240,000 after purchasing an additional 41,925 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Worthington Steel by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,296 shares of the company's stock worth $10,927,000 after purchasing an additional 36,488 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Worthington Steel by 35.4% during the 3rd 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. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Price Performance

Shares of NYSE WS traded down $0.52 during mid-day trading on Friday, reaching $28.39. 264,724 shares of the company's stock were exchanged, compared to its average volume of 230,738. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.96 and a beta of 2.59. Worthington Steel, Inc. has a 52 week low of $27.33 and a 52 week high of $47.19. The firm has a 50-day moving average price of $30.70 and a two-hundred day moving average price of $35.04.

Worthington Steel (NYSE:WS - Get Free Report) last released its earnings results on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.37). The business had revenue of $739.00 million for the quarter, compared to the consensus estimate of $740.40 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The company's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. As a group, sell-side analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel's dividend payout ratio (DPR) is currently 22.46%.

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.