Amalgamated Bank Raises Stake in Worthington Steel, Inc. (NYSE:WS)

Amalgamated Bank grew its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,173 shares of the company’s stock after acquiring an additional 830 shares during the quarter. Amalgamated Bank’s holdings in Worthington Steel were worth $346,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CWM LLC raised its position in Worthington Steel by 845.4% in the 2nd quarter. CWM LLC now owns 1,021 shares of the company’s stock worth $34,000 after purchasing an additional 913 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Worthington Steel in the 1st quarter valued at about $37,000. GAMMA Investing LLC boosted its holdings in Worthington Steel by 153.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after acquiring an additional 759 shares during the period. nVerses Capital LLC bought a new position in Worthington Steel during the 3rd quarter worth approximately $71,000. Finally, Eastern Bank purchased a new position in Worthington Steel in the 3rd quarter worth approximately $99,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Performance

NYSE:WS opened at $43.22 on Monday. Worthington Steel, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $47.19. The firm has a market cap of $2.19 billion and a PE ratio of 17.43. The business has a 50 day moving average price of $36.40 and a 200-day moving average price of $34.50.

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

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.48%. Worthington Steel’s dividend payout ratio is presently 25.81%.

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.