Fisher Asset Management LLC Buys 58,864 Shares of Worthington Steel, Inc. $WS

Fisher Asset Management LLC lifted its stake in Worthington Steel, Inc. (NYSE:WS) by 44.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 191,673 shares of the company’s stock after acquiring an additional 58,864 shares during the period. Fisher Asset Management LLC owned 0.38% of Worthington Steel worth $5,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new position in Worthington Steel during the second quarter valued at approximately $34,000. MAI Capital Management lifted its stake in shares of Worthington Steel by 39.8% in the third quarter. MAI Capital Management now owns 1,404 shares of the company’s stock worth $43,000 after buying an additional 400 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Worthington Steel during the 2nd quarter worth $52,000. CWM LLC grew its stake in Worthington Steel by 37.2% in the 3rd quarter. CWM LLC now owns 1,917 shares of the company’s stock valued at $58,000 after buying an additional 520 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Worthington Steel by 149.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,354 shares of the company’s stock worth $70,000 after acquiring an additional 1,412 shares during the period. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Trading Down 1.4%

Shares of WS opened at $38.52 on Friday. The stock’s 50-day moving average price is $40.80 and its 200 day moving average price is $35.51. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 21.64 and a beta of 1.62. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $49.17.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Friday, December 19th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $871.90 million for the quarter, compared to the consensus estimate of $797.25 million. Worthington Steel had a net margin of 3.83% and a return on equity of 10.70%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.16 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. Worthington Steel’s dividend payout ratio is currently 35.96%.

Insider Transactions at Worthington Steel

In other Worthington Steel news, Director Scott J. Kelly bought 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average cost of $39.11 per share, for a total transaction of $273,770.00. Following the transaction, the director owned 16,157 shares in the company, valued at approximately $631,900.27. The trade was a 76.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jon J. Bowsher purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average cost of $40.15 per share, with a total value of $100,375.00. Following the transaction, the director directly owned 17,893 shares of the company’s stock, valued at approximately $718,403.95. This represents a 16.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WS shares. Wall Street Zen raised shares of Worthington Steel from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, January 21st. Zacks Research upgraded Worthington Steel from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Finally, KeyCorp raised their target price on Worthington Steel from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Worthington Steel Profile

Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.