FIL Ltd cut its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 211,308 shares of the company's stock after selling 17,927 shares during the period. FIL Ltd owned about 0.42% of Worthington Steel worth $6,724,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Worthington Steel by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 69,920 shares of the company's stock worth $2,225,000 after acquiring an additional 434 shares during the period. Bank of Montreal Can grew its stake in shares of Worthington Steel by 6.0% during the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock valued at $282,000 after purchasing an additional 497 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Worthington Steel by 2.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,073 shares of the company's stock valued at $925,000 after purchasing an additional 769 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Worthington Steel by 3.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 21,935 shares of the company's stock worth $747,000 after purchasing an additional 833 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Worthington Steel by 5.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 18,939 shares of the company's stock worth $603,000 after buying an additional 904 shares during the last quarter. 45.41% of the stock is owned by institutional investors.
Worthington Steel Trading Up 1.2 %
Worthington Steel stock traded up $0.29 during trading on Tuesday, reaching $24.10. The company had a trading volume of 156,497 shares, compared to its average volume of 250,372. The firm's 50-day simple moving average is $26.31 and its 200 day simple moving average is $32.85. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.46 and a beta of 2.03.
Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.32). The company had revenue of $687.40 million during the quarter, compared to the consensus estimate of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm's quarterly revenue was down 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.99 EPS. On average, analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.
Worthington Steel Announces Dividend
The company also recently declared 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 2.66%. Worthington Steel's payout ratio is currently 29.91%.
Wall Street Analyst Weigh In
Separately, KeyCorp reduced their target price on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, March 7th.
Check Out Our Latest Stock Report on Worthington Steel
About Worthington Steel
(
Free Report)
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.
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