Northern Trust Corp Has $9.51 Million Holdings in Worthington Steel, Inc. $WS

Northern Trust Corp cut its holdings in Worthington Steel, Inc. (NYSE:WS) by 0.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 375,585 shares of the company’s stock after selling 3,101 shares during the period. Northern Trust Corp owned approximately 0.74% of Worthington Steel worth $9,514,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Cerity Partners LLC lifted its position in Worthington Steel by 227.2% during the first quarter. Cerity Partners LLC now owns 24,333 shares of the company’s stock worth $616,000 after purchasing an additional 16,896 shares during the period. Foundry Partners LLC lifted its position in Worthington Steel by 110.2% during the first quarter. Foundry Partners LLC now owns 219,079 shares of the company’s stock worth $5,549,000 after purchasing an additional 114,851 shares during the period. GAMMA Investing LLC lifted its position in Worthington Steel by 1,317.2% during the first quarter. GAMMA Investing LLC now owns 19,656 shares of the company’s stock worth $498,000 after purchasing an additional 18,269 shares during the period. Russell Investments Group Ltd. lifted its position in Worthington Steel by 16.6% during 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. Finally, Nuveen LLC bought a new stake in Worthington Steel during the first quarter worth about $8,901,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Price Performance

Worthington Steel stock opened at $32.96 on Friday. The business has a 50 day moving average of $31.77 and a 200-day moving average of $27.94. Worthington Steel, Inc. has a 1 year low of $21.30 and a 1 year high of $47.19. The company has a market capitalization of $1.68 billion, a P/E ratio of 15.12 and a beta of 1.89.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, June 25th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.22. The business had revenue of $832.90 million during the quarter, compared to the consensus estimate of $800.45 million. Worthington Steel had a net margin of 3.58% and a return on equity of 9.43%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS. Equities analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.