Worthington Steel, Inc. $WS Shares Sold by US Bancorp DE

US Bancorp DE trimmed its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 55.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,269 shares of the company’s stock after selling 4,020 shares during the period. US Bancorp DE’s holdings in Worthington Steel were worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Worthington Steel by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 69,920 shares of the company’s stock worth $2,225,000 after purchasing an additional 434 shares during the last quarter. Bank of Montreal Can raised its holdings in Worthington Steel by 6.0% during the fourth quarter. Bank of Montreal Can now owns 8,848 shares of the company’s stock worth $282,000 after purchasing an additional 497 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Worthington Steel by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company’s stock worth $589,000 after buying an additional 634 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Worthington Steel by 6.4% in the 1st quarter. PDS Planning Inc now owns 12,133 shares of the company’s stock valued at $307,000 after buying an additional 729 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Worthington Steel by 4.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company’s stock worth $568,000 after acquiring an additional 828 shares in the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Trading Down 2.0%

Shares of NYSE WS opened at $31.66 on Monday. The stock has a market cap of $1.61 billion, a P/E ratio of 14.52 and a beta of 1.87. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19. The stock has a 50 day moving average of $29.85 and a two-hundred day moving average of $27.51.

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

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Worthington Steel’s dividend payout ratio (DPR) is presently 29.36%.

Wall Street Analysts Forecast Growth

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

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.