Bank of Montreal Can Has $282,000 Stock Position in Worthington Steel, Inc. (NYSE:WS)

Bank of Montreal Can increased its stake in Worthington Steel, Inc. (NYSE:WS) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,848 shares of the company’s stock after purchasing an additional 497 shares during the quarter. Bank of Montreal Can’s holdings in Worthington Steel were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Worthington Steel by 5.2% during the 4th quarter. Russell Investments Group Ltd. now owns 79,306 shares of the company’s stock valued at $2,524,000 after purchasing an additional 3,952 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Worthington Steel by 14.0% during the fourth quarter. Wells Fargo & Company MN now owns 30,424 shares of the company’s stock valued at $968,000 after buying an additional 3,734 shares in the last quarter. Foundry Partners LLC purchased a new position in shares of Worthington Steel during the fourth quarter valued at $3,317,000. Franklin Resources Inc. raised its position in Worthington Steel by 10.1% during the fourth quarter. Franklin Resources Inc. now owns 32,118 shares of the company’s stock valued at $1,022,000 after buying an additional 2,948 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Worthington Steel by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 69,920 shares of the company’s stock worth $2,225,000 after acquiring an additional 434 shares in the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Stock Up 3.2 %

WS stock opened at $25.74 on Friday. The company has a 50 day moving average of $25.72 and a two-hundred day moving average of $32.43. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 9.03 and a beta of 2.03. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm had revenue of $687.40 million for the quarter, compared to analysts’ expectations of $732.00 million. During the same quarter in the prior year, the business posted $0.99 earnings per share. Worthington Steel’s revenue was down 14.7% on a year-over-year basis. On average, research analysts anticipate 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. Investors of record on Friday, June 13th will be paid a $0.16 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.49%. Worthington Steel’s payout ratio is 29.91%.

Analyst Ratings Changes

Separately, KeyCorp dropped their target price on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a report 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.