Worthington Steel, Inc. (NYSE:WS) Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 27.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,712 shares of the company's stock after selling 58,768 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.30% of Worthington Steel worth $5,194,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WS. Coldstream Capital Management Inc. boosted its holdings in Worthington Steel by 1.5% in the second quarter. Coldstream Capital Management Inc. now owns 21,102 shares of the company's stock valued at $704,000 after purchasing an additional 304 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Worthington Steel by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 26,662 shares of the company's stock worth $956,000 after buying an additional 345 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Worthington Steel by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company's stock valued at $517,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC boosted its stake in Worthington Steel by 153.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company's stock valued at $43,000 after acquiring an additional 759 shares during the last quarter. Finally, CWM LLC increased its position in shares of Worthington Steel by 845.4% in the 2nd quarter. CWM LLC now owns 1,021 shares of the company's stock worth $34,000 after purchasing an additional 913 shares during the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Stock Performance

Shares of WS stock traded up $3.26 during trading hours on Monday, hitting $39.80. 322,491 shares of the company were exchanged, compared to its average volume of 217,725. The stock has a market capitalization of $2.02 billion and a price-to-earnings ratio of 16.02. Worthington Steel, Inc. has a one year low of $21.00 and a one year high of $41.01. The business's 50-day simple moving average is $33.92 and its two-hundred day simple moving average is $33.50.

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

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.61%. Worthington Steel's payout ratio is currently 25.81%.

Worthington Steel 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.