Proficio Capital Partners LLC Acquires New Stake in Worthington Steel, Inc. (NYSE:WS)

Proficio Capital Partners LLC acquired a new position in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 20,397 shares of the company's stock, valued at approximately $649,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WS. Victory Capital Management Inc. increased its stake in Worthington Steel by 80.9% during the 4th quarter. Victory Capital Management Inc. now owns 15,420 shares of the company's stock worth $491,000 after acquiring an additional 6,897 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Worthington Steel by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company's stock worth $10,529,000 after purchasing an additional 9,584 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Worthington Steel by 185.4% in the fourth quarter. Fisher Asset Management LLC now owns 133,543 shares of the company's stock worth $4,249,000 after purchasing an additional 86,753 shares during the period. Illinois Municipal Retirement Fund raised its stake in Worthington Steel by 5.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 18,939 shares of the company's stock valued at $603,000 after purchasing an additional 904 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Worthington Steel by 44.6% during the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company's stock worth $11,424,000 after purchasing an additional 110,662 shares during the period. Institutional investors and hedge funds own 45.41% of the company's stock.

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Worthington Steel Price Performance

WS traded up $0.38 during trading on Thursday, hitting $26.53. 202,955 shares of the stock traded hands, compared to its average volume of 326,379. The business has a 50 day moving average price of $28.02 and a 200 day moving average price of $33.91. Worthington Steel, Inc. has a twelve month low of $24.22 and a twelve month high of $47.19. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 9.31 and a beta of 2.62.

Worthington Steel (NYSE:WS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.32). The business had revenue of $687.40 million for 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%. Worthington Steel's quarterly revenue was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.41%. Worthington Steel's dividend payout ratio (DPR) is presently 29.91%.

Analyst Upgrades and Downgrades

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

About Worthington Steel

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.