Worthington Steel, Inc. $WS Holdings Raised by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 121.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,305 shares of the company’s stock after buying an additional 16,085 shares during the period. Fifth Third Bancorp owned about 0.06% of Worthington Steel worth $889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WS. Rockefeller Capital Management L.P. raised its holdings in shares of Worthington Steel by 1,239.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock worth $26,000 after acquiring an additional 694 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Worthington Steel by 56.4% in the fourth quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock valued at $32,000 after purchasing an additional 328 shares in the last quarter. Torren Management LLC acquired a new position in Worthington Steel in the 4th quarter worth about $48,000. OP Asset Management Ltd acquired a new position in Worthington Steel in the 1st quarter worth about $49,000. Finally, Kestra Advisory Services LLC acquired a new position in Worthington Steel in the 4th quarter worth about $67,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Worthington Steel

In other news, insider Clifford Larivey sold 11,105 shares of Worthington Steel stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $40.09, for a total value of $445,199.45. Following the transaction, the insider directly owned 64,308 shares in the company, valued at approximately $2,578,107.72. The trade was a 14.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy A. Adams sold 2,367 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $42.27, for a total value of $100,053.09. Following the sale, the chief financial officer owned 44,098 shares of the company’s stock, valued at approximately $1,864,022.46. The trade was a 5.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,708 shares of company stock worth $1,431,830. Company insiders own 2.60% of the company’s stock.

Worthington Steel Price Performance

NYSE WS opened at $35.93 on Monday. The company has a current ratio of 1.46, a quick ratio of 0.92 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $38.04 and a 200 day simple moving average of $38.03. The company has a market cap of $1.83 billion, a P/E ratio of 25.85 and a beta of 2.34. Worthington Steel, Inc. has a 1 year low of $27.22 and a 1 year high of $49.17.

Worthington Steel (NYSE:WS) last announced its earnings results on Thursday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $929.20 million for the quarter, compared to the consensus estimate of $992.00 million. Worthington Steel had a net margin of 0.50% and a return on equity of 8.85%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. On average, sell-side analysts predict that Worthington Steel, Inc. will post 3.39 EPS for the current year.

Worthington Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Worthington Steel’s dividend payout ratio (DPR) is currently 46.04%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Zacks Research upgraded Worthington Steel from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded Worthington Steel from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. KeyCorp reaffirmed an “overweight” rating on shares of Worthington Steel in a research report on Monday, June 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Worthington Steel has a consensus rating of “Buy” and a consensus target price of $46.00.

About Worthington Steel

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.