Deutsche Bank AG Purchases 33,400 Shares of Worthington Steel, Inc. (NYSE:WS)

Deutsche Bank AG grew its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 83.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,390 shares of the company’s stock after purchasing an additional 33,400 shares during the period. Deutsche Bank AG owned approximately 0.14% of Worthington Steel worth $2,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Worthington Steel during the fourth quarter valued at $649,000. Handelsbanken Fonder AB raised its stake in Worthington Steel by 23.7% in the 4th quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company’s stock worth $316,000 after acquiring an additional 1,900 shares during the last quarter. New York State Teachers Retirement System lifted its position in Worthington Steel by 2.3% during the 4th quarter. New York State Teachers Retirement System now owns 65,974 shares of the company’s stock worth $2,099,000 after acquiring an additional 1,487 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Worthington Steel by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company’s stock worth $10,529,000 after acquiring an additional 9,584 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Worthington Steel by 51.3% during the 4th quarter. JPMorgan Chase & Co. now owns 128,830 shares of the company’s stock valued at $4,099,000 after purchasing an additional 43,689 shares during the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, KeyCorp reduced their price objective on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, March 7th.

Worthington Steel Trading Down 1.0%

Shares of NYSE:WS opened at $26.08 on Friday. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19. The company has a market cap of $1.32 billion, a PE ratio of 9.15 and a beta of 1.98. The company’s 50 day moving average is $25.51 and its 200 day moving average is $31.14.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 EPS 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 business had revenue of $687.40 million during the quarter, compared to analysts’ expectations of $732.00 million. During the same period last year, the company earned $0.99 earnings per share. The firm’s revenue was down 14.7% on a year-over-year basis. Equities research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently declared 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. This represents a $0.64 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel’s payout ratio is 29.91%.

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.