Charles Schwab Investment Management Inc. Acquires 36,488 Shares of Worthington Steel, Inc. (NYSE:WS)

Charles Schwab Investment Management Inc. grew its position in Worthington Steel, Inc. (NYSE:WS) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 321,296 shares of the company’s stock after purchasing an additional 36,488 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of Worthington Steel worth $10,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. CWM LLC increased its holdings in 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. GAMMA Investing LLC grew its position in shares of Worthington Steel by 153.0% during the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after purchasing 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 about $71,000. Eastern Bank bought a new stake in shares of Worthington Steel in the third quarter worth about $99,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Worthington Steel in the second quarter worth about $208,000. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Price Performance

NYSE WS opened at $44.48 on Tuesday. Worthington Steel, Inc. has a 1-year low of $22.74 and a 1-year high of $47.19. The business has a 50 day simple moving average of $39.78 and a two-hundred day simple moving average of $35.78. The stock has a market capitalization of $2.26 billion and a PE ratio of 17.93.

Worthington Steel (NYSE:WS) last posted its earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $834.00 million during the quarter, compared to analyst estimates of $748.40 million. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, analysts anticipate that Worthington Steel, Inc. will post 2.95 EPS for the current fiscal 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 paid a $0.16 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.44%. Worthington Steel’s payout ratio is currently 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.