Charles Schwab Investment Management Inc. Increases Position in Worthington Steel, Inc. (NYSE:WS)

Charles Schwab Investment Management Inc. grew its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 321,296 shares of the company's stock after purchasing an additional 36,488 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.63% of Worthington Steel worth $10,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Worthington Steel by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,393,483 shares of the company's stock worth $79,845,000 after buying an additional 17,783 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Worthington Steel by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 267,935 shares of the company's stock worth $8,938,000 after acquiring an additional 6,433 shares during the period. Private Wealth Strategies L.L.C. purchased a new position in Worthington Steel in the 2nd quarter valued at approximately $6,955,000. Millennium Management LLC raised its holdings in Worthington Steel by 135.3% during the second quarter. Millennium Management LLC now owns 189,968 shares of the company's stock worth $6,337,000 after purchasing an additional 109,224 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Worthington Steel by 7.9% during the third quarter. Principal Financial Group Inc. now owns 163,757 shares of the company's stock worth $5,569,000 after purchasing an additional 11,976 shares in the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Price Performance

Worthington Steel stock traded up $0.06 during trading hours on Tuesday, hitting $44.51. The stock had a trading volume of 88,746 shares, compared to its average volume of 211,953. Worthington Steel, Inc. has a 1-year low of $22.74 and a 1-year high of $47.19. The stock has a market capitalization of $2.26 billion and a price-to-earnings ratio of 17.93. The stock's fifty day moving average is $39.78 and its two-hundred day moving average is $35.78.

Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings data on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. The firm had revenue of $834.00 million for the quarter, compared to analysts' expectations of $748.40 million. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. Worthington Steel's revenue was down 7.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.44%. Worthington Steel's dividend payout ratio is currently 25.81%.

About Worthington Steel

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.