Worthington Steel, Inc. (NYSE:WS) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in Worthington Steel, Inc. (NYSE:WS) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,467,428 shares of the company’s stock after purchasing an additional 550,181 shares during the period. Vanguard Group Inc. owned approximately 8.80% of Worthington Steel worth $142,154,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings in shares of Worthington Steel by 44.5% in the 3rd quarter. Jane Street Group LLC now owns 68,744 shares of the company’s stock worth $2,338,000 after acquiring an additional 21,172 shares during the period. Geode Capital Management LLC boosted its position in Worthington Steel by 5.7% during the third quarter. Geode Capital Management LLC now owns 771,371 shares of the company’s stock worth $26,240,000 after purchasing an additional 41,925 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Worthington Steel in the fourth quarter valued at $649,000. Janus Henderson Group PLC increased its position in shares of Worthington Steel by 546.5% in the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock valued at $3,179,000 after buying an additional 79,021 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Worthington Steel by 46.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 85,141 shares of the company’s stock worth $2,896,000 after buying an additional 26,809 shares during the last quarter. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp lowered their price objective 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, March 7th.

Worthington Steel Price Performance

Shares of WS opened at $23.42 on Tuesday. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 8.22 and a beta of 2.03. The firm has a 50 day simple moving average of $27.16 and a 200-day simple moving average of $33.46.

Worthington Steel (NYSE:WS) last announced its earnings results on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The company had revenue of $687.40 million for the quarter, compared to analyst estimates of $732.00 million. During the same quarter last year, the company posted $0.99 EPS. Worthington Steel’s quarterly revenue was down 14.7% compared to the same quarter last year. On average, equities analysts expect that Worthington Steel, Inc. will post 2.26 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, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.16 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.73%. Worthington Steel’s dividend payout ratio (DPR) is 29.91%.

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.