Worthington Steel, Inc. (NYSE:WS) Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 7.9% in the 3rd quarter, according to its most recent Form 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 0.32% of Worthington Steel worth $5,569,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WS. Amalgamated Bank grew its position in shares of Worthington Steel by 8.9% during the third quarter. Amalgamated Bank now owns 10,173 shares of the company's stock worth $346,000 after buying an additional 830 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Worthington Steel by 0.5% during the third quarter. New York State Teachers Retirement System now owns 64,487 shares of the company's stock worth $2,193,000 after buying an additional 305 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Worthington Steel by 10.0% during the third quarter. State of Alaska Department of Revenue now owns 19,841 shares of the company's stock worth $674,000 after buying an additional 1,796 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Worthington Steel by 8.4% during the third quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the company's stock worth $571,000 after buying an additional 1,300 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Worthington Steel during the third quarter worth approximately $99,000. Institutional investors and hedge funds own 45.41% of the company's stock.

Worthington Steel Price Performance

Worthington Steel stock opened at $43.96 on Thursday. The company has a market cap of $2.23 billion and a PE ratio of 17.72. The company has a fifty day moving average price of $37.13 and a two-hundred day moving average price of $34.71. Worthington Steel, Inc. has a 12 month low of $21.00 and a 12 month high of $47.19.

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

Worthington Steel Dividend Announcement

The firm also recently disclosed 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. This represents a $0.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, December 13th. Worthington Steel's dividend payout ratio is presently 25.81%.

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.