JPMorgan Chase & Co. Has $4.10 Million Stake in Worthington Steel, Inc. (NYSE:WS)

JPMorgan Chase & Co. lifted its stake in Worthington Steel, Inc. (NYSE:WS) by 51.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,830 shares of the company’s stock after purchasing an additional 43,689 shares during the quarter. JPMorgan Chase & Co. owned 0.25% of Worthington Steel worth $4,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in Worthington Steel in the 4th quarter worth about $220,000. MML Investors Services LLC bought a new stake in shares of Worthington Steel in the 3rd quarter valued at approximately $239,000. Raymond James Financial Inc. acquired a new position in Worthington Steel in the fourth quarter worth approximately $290,000. Handelsbanken Fonder AB raised its position in Worthington Steel by 23.7% during the fourth quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company’s stock valued at $316,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Park National Corp OH acquired a new stake in Worthington Steel in the fourth quarter valued at approximately $410,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Price Performance

NYSE WS opened at $24.22 on Monday. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The stock’s 50-day moving average is $26.02 and its two-hundred day moving average is $32.66. The firm has a market cap of $1.23 billion, a P/E ratio of 8.50 and a beta of 2.03.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data 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 period in the prior year, the company posted $0.99 EPS. The business’s revenue was down 14.7% on a year-over-year basis. On average, equities analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel’s dividend payout ratio is 29.91%.

Wall Street Analyst Weigh In

Separately, KeyCorp dropped their price target 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.

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.