UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Position in Worthington Steel, Inc. (NYSE:WS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 21.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,310 shares of the company's stock after selling 13,419 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Worthington Steel worth $1,643,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Worthington Steel by 7.9% during the third quarter. Principal Financial Group Inc. now owns 163,757 shares of the company's stock valued at $5,569,000 after acquiring an additional 11,976 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of Worthington Steel by 54.5% during the second quarter. WINTON GROUP Ltd now owns 141,024 shares of the company's stock valued at $4,705,000 after acquiring an additional 49,725 shares in the last quarter. FMR LLC increased its holdings in shares of Worthington Steel by 14.4% during the third quarter. FMR LLC now owns 88,973 shares of the company's stock valued at $3,026,000 after acquiring an additional 11,226 shares in the last quarter. CWM LLC increased its holdings in shares of Worthington Steel by 845.4% during the second quarter. CWM LLC now owns 1,021 shares of the company's stock valued at $34,000 after acquiring an additional 913 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of Worthington Steel by 195.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 23,485 shares of the company's stock valued at $798,000 after acquiring an additional 15,540 shares in the last quarter. Institutional investors own 45.41% of the company's stock.

Worthington Steel Price Performance

NYSE WS traded down $1.68 during trading hours on Tuesday, hitting $39.38. The company's stock had a trading volume of 301,842 shares, compared to its average volume of 214,073. Worthington Steel, Inc. has a 12 month low of $23.82 and a 12 month high of $47.19. The company's 50 day simple moving average is $40.77 and its two-hundred day simple moving average is $36.13. The company has a market cap of $2.00 billion and a P/E ratio of 16.19.

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

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given 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 1.63%. Worthington Steel's payout ratio is 25.81%.

About Worthington Steel

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.