Charles Schwab Investment Management Inc. Raises Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Charles Schwab Investment Management Inc. lifted its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,880 shares of the company's stock after acquiring an additional 9,584 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of Worthington Steel worth $10,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Worthington Steel by 36.8% in the 3rd quarter. Victory Capital Management Inc. now owns 8,523 shares of the company's stock worth $290,000 after purchasing an additional 2,291 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Worthington Steel by 44.7% in the third quarter. Natixis Advisors LLC now owns 22,590 shares of the company's stock valued at $768,000 after acquiring an additional 6,976 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Worthington Steel by 7.0% during the third quarter. Thrivent Financial for Lutherans now owns 27,304 shares of the company's stock valued at $929,000 after acquiring an additional 1,791 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Worthington Steel by 1.3% during the third quarter. PNC Financial Services Group Inc. now owns 28,304 shares of the company's stock worth $963,000 after acquiring an additional 350 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Worthington Steel in the third quarter worth $1,121,000. Hedge funds and other institutional investors own 45.41% of the company's stock.

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Worthington Steel Trading Down 1.1 %

Shares of WS stock traded down $0.29 during trading hours on Wednesday, hitting $26.06. 245,166 shares of the company were exchanged, compared to its average volume of 237,701. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.14 and a beta of 2.62. The firm has a fifty day simple moving average of $28.12 and a 200 day simple moving average of $33.97. Worthington Steel, Inc. has a 52-week low of $24.22 and a 52-week high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last issued its earnings results 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 net margin of 4.36% and a return on equity of 12.59%. The firm had revenue of $687.40 million during the quarter, compared to the consensus estimate of $732.00 million. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business's quarterly revenue was down 14.7% compared to the same quarter last year. Sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.46%. Worthington Steel's dividend payout ratio (DPR) is currently 29.91%.

Analyst Upgrades and Downgrades

Separately, KeyCorp lowered their target price on Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th.

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.