State of Alaska Department of Revenue Buys 1,447 Shares of Worthington Steel, Inc. $WS

State of Alaska Department of Revenue lifted its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,852 shares of the company’s stock after acquiring an additional 1,447 shares during the quarter. State of Alaska Department of Revenue’s holdings in Worthington Steel were worth $621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 443 shares during the period. CWM LLC boosted its stake in Worthington Steel by 141.5% in the 1st quarter. CWM LLC now owns 2,186 shares of the company’s stock worth $55,000 after purchasing an additional 1,281 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Worthington Steel in the 1st quarter worth approximately $118,000. Harbor Capital Advisors Inc. boosted its stake in Worthington Steel by 10,559.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company’s stock worth $248,000 after purchasing an additional 9,715 shares during the period. Finally, PDS Planning Inc boosted its stake in Worthington Steel by 6.4% in the 1st quarter. PDS Planning Inc now owns 12,133 shares of the company’s stock worth $307,000 after purchasing an additional 729 shares during the period. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Stock Performance

WS stock opened at $30.97 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.66 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $31.90 and its two-hundred day simple moving average is $28.75. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 14.20 and a beta of 1.76.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, September 24th. The company reported $0.77 earnings per share 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 business had revenue of $872.90 million for the quarter, compared to analyst estimates of $785.30 million. During the same quarter last year, the firm posted $0.56 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 12th will be paid a $0.16 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.1%. Worthington Steel’s dividend payout ratio (DPR) is presently 29.36%.

Analysts Set New Price Targets

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

Worthington Steel 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.