Sequoia Financial Advisors LLC Acquires New Shares in Worthington Steel, Inc. (NYSE:WS)

Sequoia Financial Advisors LLC purchased a new position in shares of Worthington Steel, Inc. (NYSE:WS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,647 shares of the company’s stock, valued at approximately $328,000.

Several other hedge funds also recently bought and sold shares of WS. Cardinal Capital Management lifted its stake in shares of Worthington Steel by 8.6% during the third quarter. Cardinal Capital Management now owns 13,442 shares of the company’s stock worth $457,000 after purchasing an additional 1,066 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Worthington Steel during the third quarter worth about $71,000. GAMMA Investing LLC increased its holdings in Worthington Steel by 153.0% in the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after buying an additional 759 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Worthington Steel by 24.9% in the third quarter. Handelsbanken Fonder AB now owns 8,016 shares of the company’s stock valued at $273,000 after buying an additional 1,600 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Worthington Steel in the third quarter valued at about $349,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Up 8.9 %

Shares of Worthington Steel stock opened at $39.80 on Tuesday. The firm has a market cap of $2.02 billion and a P/E ratio of 16.05. Worthington Steel, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $41.01. The business has a 50-day moving average price of $34.04 and a 200 day moving average price of $33.53.

Worthington Steel (NYSE:WS) last posted its earnings results on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $834.00 million during the quarter, compared to analyst estimates of $748.40 million. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Worthington Steel, Inc. will post 2.95 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.61%. Worthington Steel’s dividend payout ratio (DPR) is 25.81%.

Worthington Steel Company 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.