Nuveen LLC Takes Position in Worthington Steel, Inc. $WS

Nuveen LLC bought a new stake in Worthington Steel, Inc. (NYSE:WS) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 351,388 shares of the company’s stock, valued at approximately $8,901,000. Nuveen LLC owned 0.69% of Worthington Steel as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Worthington Steel by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 69,920 shares of the company’s stock valued at $2,225,000 after buying an additional 434 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Worthington Steel by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company’s stock valued at $589,000 after buying an additional 634 shares during the period. PDS Planning Inc increased its stake 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 during the period. The Manufacturers Life Insurance Company increased its stake in shares of Worthington Steel by 4.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company’s stock valued at $568,000 after buying an additional 828 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Worthington Steel by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 20,041 shares of the company’s stock valued at $638,000 after buying an additional 1,080 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Stock Up 5.7%

NYSE:WS opened at $33.1970 on Friday. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19. The firm has a market capitalization of $1.69 billion, a P/E ratio of 15.23 and a beta of 1.87. The stock’s fifty day simple moving average is $30.49 and its 200-day simple moving average is $27.64.

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

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, September 12th. This represents a $0.64 annualized dividend and a yield of 1.9%. Worthington Steel’s payout ratio is currently 29.36%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Worthington Steel from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $34.00.

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.