Point72 Asset Management L.P. Buys New Shares in Worthington Steel, Inc. (NYSE:WS)

Point72 Asset Management L.P. purchased a new position in Worthington Steel, Inc. (NYSE:WS - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,183 shares of the company's stock, valued at approximately $822,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its position in Worthington Steel by 35.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company's stock valued at $8,948,000 after acquiring an additional 68,792 shares in the last quarter. Janus Henderson Group PLC increased its position in Worthington Steel by 546.5% during the 3rd quarter. Janus Henderson Group PLC now owns 93,480 shares of the company's stock valued at $3,179,000 after buying an additional 79,021 shares in the last quarter. Walleye Capital LLC grew its stake in shares of Worthington Steel by 56.4% in the third quarter. Walleye Capital LLC now owns 54,088 shares of the company's stock worth $1,840,000 after acquiring an additional 19,499 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Worthington Steel by 9.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 73,758 shares of the company's stock valued at $2,509,000 after purchasing an additional 6,100 shares in the last quarter. Finally, De Lisle Partners LLP raised its holdings in Worthington Steel by 1.9% in the 3rd quarter. De Lisle Partners LLP now owns 49,194 shares of the company's stock worth $1,674,000 after acquiring an additional 900 shares during the last quarter. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Price Performance

Shares of Worthington Steel stock traded down $0.64 during trading on Thursday, hitting $43.49. 158,337 shares of the company's stock traded hands, compared to its average volume of 213,679. The business has a 50-day simple moving average of $40.45 and a 200-day simple moving average of $35.97. Worthington Steel, Inc. has a 1 year low of $22.74 and a 1 year high of $47.19. The stock has a market capitalization of $2.21 billion and a P/E ratio of 17.54.

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

Worthington Steel Dividend Announcement

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 paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Steel's dividend payout ratio is presently 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.