Fifth Third Bancorp Has $366,000 Stock Holdings in Worthington Steel, Inc. $WS

Fifth Third Bancorp lessened its holdings in Worthington Steel, Inc. (NYSE:WS) by 12.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,278 shares of the company’s stock after selling 1,752 shares during the quarter. Fifth Third Bancorp’s holdings in Worthington Steel were worth $366,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of WS. Harbor Capital Advisors Inc. lifted its holdings in Worthington Steel by 3.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,147 shares of the company’s stock worth $303,000 after buying an additional 340 shares during the period. Cardinal Capital Management increased its holdings in shares of Worthington Steel by 2.7% in the second quarter. Cardinal Capital Management now owns 16,498 shares of the company’s stock worth $492,000 after purchasing an additional 429 shares during the period. Wellington Management Group LLP increased its stake in Worthington Steel by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 69,920 shares of the company’s stock valued at $2,225,000 after acquiring an additional 434 shares during the last quarter. GAMMA Investing LLC boosted its position in Worthington Steel by 57.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,219 shares of the company’s stock valued at $36,000 after buying an additional 443 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Worthington Steel by 2.0% during 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. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Trading Down 0.1%

Shares of WS opened at $30.43 on Wednesday. The stock has a market capitalization of $1.55 billion, a P/E ratio of 13.96 and a beta of 1.89. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.04. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The business’s 50-day moving average price is $31.95 and its 200 day moving average price is $28.59.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Wednesday, September 24th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Worthington Steel had a return on equity of 10.11% and a net margin of 3.80%.The company had revenue of $872.90 million during the quarter, compared to analyst estimates of $785.30 million. During the same period in the previous year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 12th. Worthington Steel’s dividend payout ratio (DPR) is currently 27.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WS shares. Wall Street Zen downgraded shares of Worthington Steel from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. KeyCorp increased their price objective on shares of Worthington Steel from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $36.00.

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.