Bank of New York Mellon Corp reduced its position in shares of Worthington Steel, Inc. (NYSE:WS – Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Anchor Investment Management LLC purchased a new position in shares of Worthington Steel during the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC lifted its holdings in Worthington Steel by 82.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company’s stock worth $132,000 after purchasing an additional 1,883 shares in the last quarter. Voleon Capital Management LP purchased a new position in Worthington Steel in the 4th quarter worth approximately $213,000. KLP Kapitalforvaltning AS purchased a new position in Worthington Steel in the 4th quarter worth approximately $220,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in Worthington Steel by 10,559.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company’s stock worth $248,000 after purchasing an additional 9,715 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised Worthington Steel from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th.
Worthington Steel Stock Down 0.8%
Worthington Steel stock 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. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19. The business’s 50-day moving average price is $27.96 and its 200 day moving average price is $27.38.
Worthington Steel (NYSE:WS – Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.22. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%. The firm had revenue of $832.90 million for the quarter, compared to analyst estimates of $800.45 million. During the same period in the previous year, the company posted $1.06 earnings per share. The business’s revenue was down 8.6% on a year-over-year basis. Equities analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current year.
Worthington Steel Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid 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 payout ratio is presently 29.36%.
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.
Featured Articles
- Five stocks we like better than Worthington Steel
- What Are the U.K. Market Holidays? How to Invest and Trade
- Domino’s Delivers Another Discounted Entry for Income Investors
- What is a Low P/E Ratio and What Does it Tell Investors?
- TSLA Earnings Week: Can Tesla Break Through $350?
- What Are Dividend Contenders? Investing in Dividend Contenders
- Goldman, Morgan Stanley, & BofA: Diverging Paths After Earnings
Receive News & Ratings for Worthington Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Steel and related companies with MarketBeat.com's FREE daily email newsletter.