Worthington Steel, Inc. $WS Stake Boosted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio boosted its holdings in Worthington Steel, Inc. (NYSE:WS) by 101.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,737 shares of the company’s stock after purchasing an additional 13,951 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.05% of Worthington Steel worth $827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WS. GAMMA Investing LLC lifted its position in shares of Worthington Steel by 57.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,219 shares of the company’s stock worth $36,000 after buying an additional 443 shares during the last quarter. CWM LLC raised its stake in Worthington Steel by 141.5% during the first quarter. CWM LLC now owns 2,186 shares of the company’s stock worth $55,000 after acquiring an additional 1,281 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Worthington Steel in the first quarter worth about $118,000. Harbor Capital Advisors Inc. lifted its holdings in Worthington Steel by 10,559.8% in the first quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company’s stock worth $248,000 after acquiring an additional 9,715 shares during the last quarter. Finally, PDS Planning Inc boosted its stake in Worthington Steel by 6.4% in the first quarter. PDS Planning Inc now owns 12,133 shares of the company’s stock valued at $307,000 after acquiring an additional 729 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WS has been the topic of a number of research reports. Wall Street Zen downgraded Worthington Steel from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a research report on Saturday, September 27th. Finally, KeyCorp increased their price objective on shares of Worthington Steel from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Worthington Steel presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Worthington Steel Stock Performance

WS opened at $31.63 on Monday. The business has a 50 day moving average price of $31.90 and a two-hundred day moving average price of $28.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.66 and a quick ratio of 0.97. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 14.51 and a beta of 1.76. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19.

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

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.64 annualized dividend and a dividend yield of 2.0%. Worthington Steel’s payout ratio is currently 29.36%.

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.