State Street Corp Raises Holdings in Worthington Steel, Inc. (NYSE:WS)

State Street Corp lifted its holdings in Worthington Steel, Inc. (NYSE:WS - Free Report) by 2.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,557,031 shares of the company's stock after purchasing an additional 33,534 shares during the period. State Street Corp owned approximately 3.07% of Worthington Steel worth $52,955,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in Worthington Steel by 845.4% in the 2nd quarter. CWM LLC now owns 1,021 shares of the company's stock valued at $34,000 after purchasing an additional 913 shares in the last quarter. GAMMA Investing LLC raised its holdings in Worthington Steel by 153.0% in the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company's stock valued at $43,000 after acquiring an additional 759 shares in the last quarter. nVerses Capital LLC purchased a new position in Worthington Steel in the third quarter worth approximately $71,000. Eastern Bank acquired a new position in Worthington Steel during the 3rd quarter worth approximately $99,000. Finally, Victory Capital Management Inc. acquired a new position in Worthington Steel during the 2nd quarter worth approximately $208,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Price Performance

Shares of WS traded up $1.64 during midday trading on Friday, reaching $34.10. The stock had a trading volume of 2,598,646 shares, compared to its average volume of 227,734. The company has a market cap of $1.73 billion and a price-to-earnings ratio of 13.75. The company's fifty day simple moving average is $40.95 and its two-hundred day simple moving average is $36.16. Worthington Steel, Inc. has a 1-year low of $23.82 and a 1-year high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly 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 3.71% and a return on equity of 12.14%. The firm's quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, sell-side analysts forecast that Worthington Steel, Inc. will post 2.95 earnings per share for the current year.

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel's payout ratio is 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.