Northwestern Mutual Wealth Management Co. Purchases New Position in Worthington Steel, Inc. $WS

Northwestern Mutual Wealth Management Co. acquired a new stake in Worthington Steel, Inc. (NYSE:WS) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,667 shares of the company’s stock, valued at approximately $118,000.

Several other large investors have also modified their holdings of WS. Raymond James Financial Inc. acquired a new stake in shares of Worthington Steel in the fourth quarter valued at approximately $290,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Worthington Steel by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,849 shares of the company’s stock valued at $791,000 after acquiring an additional 1,331 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Worthington Steel by 4.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company’s stock valued at $568,000 after acquiring an additional 828 shares during the period. Northern Trust Corp boosted its holdings in shares of Worthington Steel by 9.6% in the fourth quarter. Northern Trust Corp now owns 378,686 shares of the company’s stock valued at $12,050,000 after acquiring an additional 33,272 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Worthington Steel by 83.5% in the fourth quarter. Deutsche Bank AG now owns 73,390 shares of the company’s stock valued at $2,335,000 after acquiring an additional 33,400 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Stock Up 0.9%

Shares of WS stock opened at $32.96 on Friday. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The stock has a market cap of $1.68 billion, a P/E ratio of 15.12 and a beta of 1.89. The business has a fifty day simple moving average of $31.77 and a 200-day simple moving average of $27.94.

Worthington Steel (NYSE:WS) last announced its quarterly 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 analysts’ expectations of $800.45 million. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%.The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.06 earnings per share. On average, sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Worthington Steel from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Worthington Steel presently has an average rating of “Buy” and a consensus price target 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.