Bank of New York Mellon Corp Lowers Position in Worthington Steel, Inc. (NYSE:WS)

Bank of New York Mellon Corp lessened its position in Worthington Steel, Inc. (NYSE:WS) by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 337,419 shares of the company’s stock after selling 21,616 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Worthington Steel worth $8,547,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WS. Vanguard Group Inc. lifted its holdings in Worthington Steel by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company’s stock valued at $142,154,000 after purchasing an additional 550,181 shares in the last quarter. Lido Advisors LLC acquired a new position in Worthington Steel in the 4th quarter valued at about $5,755,000. First Trust Advisors LP acquired a new position in Worthington Steel in the 4th quarter valued at about $3,706,000. Foundry Partners LLC acquired a new position in shares of Worthington Steel during the fourth quarter worth about $3,317,000. Finally, Norges Bank acquired a new position in Worthington Steel in the fourth quarter valued at approximately $2,234,000. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Stock Performance

Shares of NYSE WS opened at $31.66 on Tuesday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 14.52 and a beta of 1.87. The business’s 50-day simple moving average is $27.96 and its 200-day simple moving average is $27.38. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.22. The company had revenue of $832.90 million during the quarter, compared to the consensus estimate of $800.45 million. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.06 EPS. As a group, equities research analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.16 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.02%. Worthington Steel’s dividend payout ratio (DPR) is 29.36%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Worthington Steel from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th.

Worthington Steel 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.