Harbor Capital Advisors Inc. Has $303,000 Stock Position in Worthington Steel, Inc. $WS

Harbor Capital Advisors Inc. raised its position in shares of Worthington Steel, Inc. (NYSE:WS) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,147 shares of the company’s stock after purchasing an additional 340 shares during the period. Harbor Capital Advisors Inc.’s holdings in Worthington Steel were worth $303,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Strs Ohio acquired a new position in Worthington Steel during the first quarter valued at approximately $585,000. Empowered Funds LLC acquired a new position in shares of Worthington Steel during the first quarter worth $4,485,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Worthington Steel during the first quarter worth $607,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Worthington Steel by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock worth $490,000 after buying an additional 841 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Worthington Steel during the first quarter worth $3,394,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Price Performance

WS stock opened at $33.58 on Friday. Worthington Steel, Inc. has a 1 year low of $21.30 and a 1 year high of $47.19. The stock has a market capitalization of $1.71 billion, a PE ratio of 15.40 and a beta of 1.89. The company’s 50-day moving average is $32.00 and its 200-day moving average is $28.31.

Worthington Steel (NYSE:WS) last posted its earnings results on Wednesday, June 25th. The company reported $1.05 earnings per share for the quarter, topping 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 company had revenue of $832.90 million for the quarter, compared to analyst estimates of $800.45 million. During the same quarter in the prior year, the business posted $1.06 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. On average, analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm 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 is currently 29.36%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WS. KeyCorp upped their price target on shares of Worthington Steel from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday. Wall Street Zen upgraded shares of Worthington Steel from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. One 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 $36.00.

About Worthington Steel

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.