Renaissance Technologies LLC Has $3.56 Million Stake in Worthington Steel, Inc. (NYSE:WS)

Renaissance Technologies LLC cut its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,900 shares of the company's stock after selling 60,003 shares during the period. Renaissance Technologies LLC owned 0.22% of Worthington Steel worth $3,561,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of Worthington Steel in the fourth quarter worth about $220,000. MML Investors Services LLC bought a new position in Worthington Steel in the 3rd quarter worth approximately $239,000. Bank of Montreal Can raised its position in Worthington Steel by 6.0% in the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock worth $282,000 after purchasing an additional 497 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Worthington Steel during the 4th quarter worth $290,000. Finally, Handelsbanken Fonder AB boosted its position in Worthington Steel by 23.7% in the 4th quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company's stock valued at $316,000 after buying an additional 1,900 shares during the last quarter. 45.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, KeyCorp dropped their target price on Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a research report on Friday, March 7th.

Worthington Steel Stock Performance

Worthington Steel stock traded down $0.05 during trading hours on Friday, reaching $25.70. 151,396 shares of the company's stock traded hands, compared to its average volume of 250,117. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.02 and a beta of 2.03. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The firm's 50 day moving average is $25.64 and its 200-day moving average is $32.38.

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). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. The company's quarterly revenue was down 14.7% on a year-over-year basis. Analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.16 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.49%. Worthington Steel's dividend payout ratio is currently 29.91%.

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.