LPL Financial LLC Acquires 1,078 Shares of Worthington Steel, Inc. (NYSE:WS)

LPL Financial LLC grew its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,632 shares of the company’s stock after buying an additional 1,078 shares during the quarter. LPL Financial LLC’s holdings in Worthington Steel were worth $529,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Worthington Steel by 2.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,073 shares of the company’s stock valued at $925,000 after acquiring an additional 769 shares during the period. Illinois Municipal Retirement Fund increased its position in Worthington Steel by 5.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 18,939 shares of the company’s stock worth $603,000 after buying an additional 904 shares during the last quarter. American Century Companies Inc. increased its position in Worthington Steel by 4.6% during the fourth quarter. American Century Companies Inc. now owns 25,248 shares of the company’s stock worth $803,000 after buying an additional 1,104 shares during the last quarter. Franklin Resources Inc. raised its stake in Worthington Steel by 4.2% in the third quarter. Franklin Resources Inc. now owns 29,170 shares of the company’s stock valued at $995,000 after buying an additional 1,178 shares during the period. Finally, Cardinal Capital Management lifted its position in shares of Worthington Steel by 10.5% in the fourth quarter. Cardinal Capital Management now owns 14,852 shares of the company’s stock valued at $473,000 after buying an additional 1,410 shares during the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Price Performance

Shares of WS opened at $25.74 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.03 and a beta of 2.03. The company’s 50-day moving average is $25.72 and its 200-day moving average is $32.43. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $732.00 million. During the same period in the prior year, the company earned $0.99 earnings per share. The firm’s revenue was down 14.7% compared to the same quarter last year. Analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

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 yield of 2.49%. Worthington Steel’s dividend payout ratio (DPR) is presently 29.91%.

Analyst Ratings Changes

Separately, KeyCorp dropped their price target on 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 Company 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.