Worthington Steel, Inc. $WS Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of Worthington Steel, Inc. (NYSE:WS) by 13.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,970 shares of the company’s stock after buying an additional 18,545 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.31% of Worthington Steel worth $4,623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WS. Ameritas Advisory Services LLC acquired a new stake in Worthington Steel during the second quarter valued at approximately $25,000. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 443 shares during the last quarter. CWM LLC lifted its holdings in shares of 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 last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Worthington Steel in the 1st quarter worth approximately $118,000. Finally, Beacon Financial Advisory LLC bought a new stake in shares of Worthington Steel in the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Stock Up 3.1%

WS opened at $31.33 on Tuesday. Worthington Steel, Inc. has a 12 month low of $21.30 and a 12 month high of $47.19. 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 stock has a market cap of $1.59 billion, a P/E ratio of 14.37 and a beta of 1.76. The stock’s 50 day moving average price is $31.99 and its 200 day moving average price is $29.09.

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

Worthington Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 12th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 12th. Worthington Steel’s dividend payout ratio (DPR) is presently 29.36%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a report on Wednesday, October 8th. KeyCorp raised their price target on Worthington Steel from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Wall Street Zen raised Worthington Steel from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently 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.