Invesco Ltd. Sells 56,210 Shares of Worthington Steel, Inc. (NYSE:WS)

Invesco Ltd. lowered its holdings in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,633 shares of the company's stock after selling 56,210 shares during the period. Invesco Ltd. owned about 0.31% of Worthington Steel worth $4,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WS. Wellington Management Group LLP raised its stake 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 valued at $2,225,000 after acquiring an additional 434 shares during the last quarter. Bank of Montreal Can grew its holdings in Worthington Steel by 6.0% during the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock worth $282,000 after acquiring an additional 497 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Worthington Steel by 2.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,073 shares of the company's stock worth $925,000 after acquiring an additional 769 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake 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 acquiring an additional 904 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of Worthington Steel by 6.9% during the fourth quarter. LPL Financial LLC now owns 16,632 shares of the company's stock worth $529,000 after purchasing an additional 1,078 shares in the last quarter. Institutional investors own 45.41% of the company's stock.

Wall Street Analyst Weigh In

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

Worthington Steel Stock Performance

NYSE:WS traded down $0.07 during trading hours on Monday, hitting $25.66. The stock had a trading volume of 132,063 shares, compared to its average volume of 249,984. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $47.19. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 9.00 and a beta of 2.03. The business's 50 day moving average is $25.57 and its 200-day moving average is $32.30.

Worthington Steel (NYSE:WS - Get Free Report) last issued 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). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business had revenue of $687.40 million for the quarter, compared to analyst estimates of $732.00 million. During the same period in the previous year, the business posted $0.99 EPS. The business's quarterly revenue was down 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, June 13th. Worthington Steel's payout ratio is presently 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.