Worthington Steel, Inc. (NYSE:WS) Position Boosted by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. grew its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 959.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,725 shares of the company’s stock after purchasing an additional 60,428 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.13% of Worthington Steel worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Deutsche Bank AG boosted its holdings in shares of Worthington Steel by 83.5% in the fourth quarter. Deutsche Bank AG now owns 73,390 shares of the company’s stock worth $2,335,000 after buying an additional 33,400 shares during the period. Voleon Capital Management LP acquired a new position in shares of Worthington Steel in the fourth quarter worth about $213,000. Lido Advisors LLC acquired a new position in shares of Worthington Steel in the fourth quarter worth about $5,755,000. Northern Trust Corp boosted its holdings in shares of Worthington Steel by 9.6% in the fourth quarter. Northern Trust Corp now owns 378,686 shares of the company’s stock worth $12,050,000 after buying an additional 33,272 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Worthington Steel by 4.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company’s stock worth $568,000 after buying an additional 828 shares during the period. Institutional investors own 45.41% of the company’s stock.

Analyst Ratings Changes

Separately, KeyCorp cut their target price on shares of Worthington Steel from $41.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, March 7th.

Worthington Steel Trading Down 0.8%

Shares of NYSE:WS opened at $27.01 on Wednesday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 9.48 and a beta of 1.98. Worthington Steel, Inc. has a 1 year low of $21.30 and a 1 year high of $47.19. The business has a fifty day simple moving average of $25.52 and a 200 day simple moving average of $31.26.

Worthington Steel (NYSE:WS) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). The firm had revenue of $687.40 million for the quarter, compared to analysts’ expectations of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period last year, the business earned $0.99 earnings per share. On average, sell-side analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel’s dividend payout ratio (DPR) is presently 29.91%.

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.