JPMorgan Chase & Co. Boosts Position in Worthington Steel, Inc. (NYSE:WS)

JPMorgan Chase & Co. raised its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 51.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 128,830 shares of the company's stock after buying an additional 43,689 shares during the quarter. JPMorgan Chase & Co. owned about 0.25% of Worthington Steel worth $4,099,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Worthington Steel by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company's stock valued at $142,154,000 after purchasing an additional 550,181 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Worthington Steel during the fourth quarter valued at approximately $41,741,000. Geode Capital Management LLC boosted its position in Worthington Steel by 5.7% during the third quarter. Geode Capital Management LLC now owns 771,371 shares of the company's stock worth $26,240,000 after acquiring an additional 41,925 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Worthington Steel by 44.6% in the 4th quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company's stock worth $11,424,000 after acquiring an additional 110,662 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Worthington Steel by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company's stock valued at $10,529,000 after acquiring an additional 9,584 shares during the last quarter. Hedge funds and other institutional investors own 45.41% of the company's stock.

Worthington Steel Trading Up 2.5 %

WS traded up $0.63 during midday trading on Thursday, hitting $25.56. The company's stock had a trading volume of 70,709 shares, compared to its average volume of 249,716. The firm has a market cap of $1.30 billion, a P/E ratio of 8.97 and a beta of 2.03. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $47.19. The firm has a 50-day moving average price of $25.78 and a two-hundred day moving average price of $32.49.

Worthington Steel (NYSE:WS - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.32). The company had revenue of $687.40 million during the quarter, compared to analysts' expectations of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. Worthington Steel's revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, June 13th. Worthington Steel's dividend payout ratio (DPR) is currently 29.91%.

Analysts Set New Price Targets

Separately, KeyCorp decreased 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 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.