Vanguard Group Inc. lifted its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 14.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,467,428 shares of the company's stock after acquiring an additional 550,181 shares during the quarter. Vanguard Group Inc. owned 8.80% of Worthington Steel worth $142,154,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of Worthington Steel by 2.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 29,073 shares of the company's stock worth $925,000 after purchasing an additional 769 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Worthington Steel by 3.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 21,935 shares of the company's stock worth $747,000 after buying an additional 833 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Worthington Steel by 5.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 18,939 shares of the company's stock valued at $603,000 after buying an additional 904 shares in the last quarter. LPL Financial LLC boosted its position in Worthington Steel by 6.9% in the 4th quarter. LPL Financial LLC now owns 16,632 shares of the company's stock valued at $529,000 after buying an additional 1,078 shares during the period. Finally, American Century Companies Inc. grew its stake in Worthington Steel by 4.6% in the 4th quarter. American Century Companies Inc. now owns 25,248 shares of the company's stock worth $803,000 after acquiring an additional 1,104 shares in the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, KeyCorp decreased their price target on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, March 7th.
Read Our Latest Report on WS
Worthington Steel Stock Up 1.5 %
NYSE:WS traded up $0.36 during mid-day trading on Friday, reaching $23.92. The company's stock had a trading volume of 329,917 shares, compared to its average volume of 250,547. Worthington Steel, Inc. has a 1 year low of $21.30 and a 1 year high of $47.19. The stock has a fifty day moving average of $26.47 and a 200-day moving average of $32.97. The firm has a market capitalization of $1.21 billion, a PE ratio of 8.39 and a beta of 2.03.
Worthington Steel (NYSE:WS - Get Free Report) last announced its quarterly earnings results 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 return on equity of 12.59% and a net margin of 4.36%. The business had revenue of $687.40 million during the quarter, compared to analysts' expectations of $732.00 million. During the same period in the previous year, the company posted $0.99 EPS. Worthington Steel's revenue for the quarter was down 14.7% on a year-over-year basis. On average, analysts expect 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. Stockholders of record on Friday, June 13th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, June 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.68%. Worthington Steel's dividend payout ratio is presently 29.91%.
Worthington Steel Profile
(
Free Report)
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.
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