Fisher Asset Management LLC Boosts Stake in Worthington Steel, Inc. (NYSE:WS)

Fisher Asset Management LLC lifted its holdings in Worthington Steel, Inc. (NYSE:WS - Free Report) by 185.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 133,543 shares of the company's stock after purchasing an additional 86,753 shares during the period. Fisher Asset Management LLC owned about 0.26% of Worthington Steel worth $4,249,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WS. Pacer Advisors Inc. bought a new position in shares of Worthington Steel during the 4th quarter worth approximately $41,741,000. Bank of New York Mellon Corp increased its stake in Worthington Steel by 44.6% during the 4th quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company's stock valued at $11,424,000 after purchasing an additional 110,662 shares in the last quarter. Janus Henderson Group PLC increased its stake in Worthington Steel by 546.5% during the 3rd quarter. Janus Henderson Group PLC now owns 93,480 shares of the company's stock valued at $3,179,000 after purchasing an additional 79,021 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Worthington Steel by 35.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company's stock valued at $8,948,000 after purchasing an additional 68,792 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Worthington Steel by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 771,371 shares of the company's stock valued at $26,240,000 after purchasing an additional 41,925 shares in the last quarter. Hedge funds and other institutional investors own 45.41% of the company's stock.

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Wall Street Analysts Forecast Growth

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 research note on Friday.

Worthington Steel Price Performance

Worthington Steel stock traded down $0.48 during mid-day trading on Friday, reaching $26.14. 285,409 shares of the company traded hands, compared to its average volume of 268,980. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.17 and a beta of 2.62. Worthington Steel, Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $47.19. The firm's fifty day moving average is $29.25 and its two-hundred day moving average is $34.63.

Worthington Steel (NYSE:WS - Get Free Report) last released its quarterly earnings data 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). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $740.40 million. During the same quarter in the previous year, the company earned $0.11 EPS. The firm's revenue was down 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, March 14th. Worthington Steel's dividend payout ratio (DPR) is presently 22.46%.

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.