Principal Financial Group Inc. Purchases 11,976 Shares of Worthington Steel, Inc. (NYSE:WS)

Principal Financial Group Inc. increased its position in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,757 shares of the company's stock after acquiring an additional 11,976 shares during the quarter. Principal Financial Group Inc. owned about 0.32% of Worthington Steel worth $5,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CWM LLC increased its holdings in shares of 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 acquiring an additional 913 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Worthington Steel in the first quarter valued at about $37,000. GAMMA Investing LLC lifted its position in shares of 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 shares of Worthington Steel during the third quarter valued at approximately $71,000. Finally, Eastern Bank acquired a new stake in shares of Worthington Steel during the third quarter worth $99,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Trading Up 1.1 %

Shares of Worthington Steel stock traded up $0.49 during trading hours on Thursday, reaching $44.44. The stock had a trading volume of 132,796 shares, compared to its average volume of 212,802. The firm has a market capitalization of $2.26 billion and a price-to-earnings ratio of 17.72. The firm has a 50 day simple moving average of $37.13 and a two-hundred day simple moving average of $34.71. Worthington Steel, Inc. has a 1 year low of $21.00 and a 1 year high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last issued its earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $834.00 million for the quarter, compared to analyst estimates of $748.40 million. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. Worthington Steel's quarterly revenue was down 7.9% compared to the same quarter last year. Sell-side analysts forecast that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 1.44%. Worthington Steel's dividend payout ratio (DPR) 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.