Fmr LLC Boosts Stock Position in Worthington Steel, Inc. (NYSE:WS)

Fmr LLC grew its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,973 shares of the company’s stock after buying an additional 11,226 shares during the quarter. Fmr LLC owned 0.18% of Worthington Steel worth $3,026,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Worthington Steel by 7.9% in the 3rd quarter. Principal Financial Group Inc. now owns 163,757 shares of the company’s stock worth $5,569,000 after acquiring an additional 11,976 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in Worthington Steel by 54.5% in the second quarter. WINTON GROUP Ltd now owns 141,024 shares of the company’s stock worth $4,705,000 after purchasing an additional 49,725 shares during the period. CWM LLC increased its stake in Worthington Steel by 845.4% during the second quarter. CWM LLC now owns 1,021 shares of the company’s stock valued at $34,000 after purchasing an additional 913 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Worthington Steel by 195.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 23,485 shares of the company’s stock valued at $798,000 after purchasing an additional 15,540 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Worthington Steel by 8.4% during the third quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the company’s stock worth $571,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Stock Performance

Worthington Steel stock opened at $42.12 on Friday. Worthington Steel, Inc. has a 1 year low of $23.82 and a 1 year high of $47.19. The firm’s 50-day moving average is $40.62 and its 200-day moving average is $36.05. The company has a market cap of $2.14 billion and a P/E ratio of 16.98.

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

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given 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 yield of 1.52%. Worthington Steel’s dividend payout ratio is currently 25.81%.

About Worthington Steel

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.