Wellington Management Group LLP Has $1.88 Million Position in Worthington Steel, Inc. $WS

Wellington Management Group LLP boosted its holdings in Worthington Steel, Inc. (NYSE:WS) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,339 shares of the company’s stock after buying an additional 4,419 shares during the period. Wellington Management Group LLP owned approximately 0.15% of Worthington Steel worth $1,883,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WS. Meros Investment Management LP acquired a new stake in Worthington Steel in the first quarter worth $2,491,000. American Century Companies Inc. raised its holdings in Worthington Steel by 966.1% in the first quarter. American Century Companies Inc. now owns 269,160 shares of the company’s stock worth $6,818,000 after purchasing an additional 243,912 shares during the period. Russell Investments Group Ltd. raised its holdings in Worthington Steel by 16.6% in the first quarter. Russell Investments Group Ltd. now owns 92,441 shares of the company’s stock worth $2,342,000 after purchasing an additional 13,135 shares during the period. HighTower Advisors LLC raised its holdings in Worthington Steel by 2.0% in the first quarter. HighTower Advisors LLC now owns 30,812 shares of the company’s stock worth $780,000 after purchasing an additional 618 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Worthington Steel by 27.5% in the first quarter. Public Sector Pension Investment Board now owns 111,108 shares of the company’s stock worth $2,814,000 after purchasing an additional 23,985 shares during the period. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Worthington Steel Stock Down 0.3%

Shares of WS stock opened at $33.28 on Friday. The firm has a fifty day moving average of $31.32 and a 200-day moving average of $27.80. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 15.27 and a beta of 1.87.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data 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 net margin of 3.58% and a return on equity of 9.43%. The company had revenue of $832.90 million during the quarter, compared to the consensus estimate of $800.45 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year. On average, equities analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

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