Proficio Capital Partners LLC Makes New $649,000 Investment in Worthington Steel, Inc. (NYSE:WS)

Proficio Capital Partners LLC purchased a new stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 20,397 shares of the company's stock, valued at approximately $649,000.

Several other hedge funds also recently modified their holdings of the company. Amalgamated Bank boosted its holdings in Worthington Steel by 8.9% during the third quarter. Amalgamated Bank now owns 10,173 shares of the company's stock worth $346,000 after buying an additional 830 shares in the last quarter. Principal Financial Group Inc. increased its stake in Worthington Steel by 7.9% in the 3rd quarter. Principal Financial Group Inc. now owns 163,757 shares of the company's stock worth $5,569,000 after purchasing an additional 11,976 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Worthington Steel by 36.8% during the 3rd quarter. Victory Capital Management Inc. now owns 8,523 shares of the company's stock worth $290,000 after buying an additional 2,291 shares during the period. Royce & Associates LP lifted its stake in Worthington Steel by 12.4% during the third quarter. Royce & Associates LP now owns 33,711 shares of the company's stock valued at $1,147,000 after buying an additional 3,711 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Worthington Steel by 44.7% in the third quarter. Natixis Advisors LLC now owns 22,590 shares of the company's stock worth $768,000 after buying an additional 6,976 shares during the period. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Stock Down 0.1 %

Shares of Worthington Steel stock traded down $0.03 during midday trading on Thursday, hitting $25.89. The company's stock had a trading volume of 206,017 shares, compared to its average volume of 269,050. The firm has a market capitalization of $1.31 billion, a P/E ratio of 9.08 and a beta of 2.62. Worthington Steel, Inc. has a 1-year low of $24.22 and a 1-year high of $47.19. The stock has a 50-day simple moving average of $28.77 and a 200-day simple moving average of $34.41.

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Worthington Steel (NYSE:WS - Get Free Report) last issued its earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.37). The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $740.40 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 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, sell-side analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel's dividend payout ratio (DPR) is currently 22.46%.

Analyst Upgrades and Downgrades

Separately, KeyCorp cut their price target 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.

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.