Worthington Steel, Inc. (NYSE:WS) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in Worthington Steel, Inc. (NYSE:WS) by 2.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,020 shares of the company’s stock after selling 342 shares during the period. The Manufacturers Life Insurance Company’s holdings in Worthington Steel were worth $579,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Private Wealth Strategies L.L.C. purchased a new position in shares of Worthington Steel during the 2nd quarter valued at approximately $6,955,000. Millennium Management LLC grew its position in shares of Worthington Steel by 135.3% in the second quarter. Millennium Management LLC now owns 189,968 shares of the company’s stock valued at $6,337,000 after purchasing an additional 109,224 shares during the period. WINTON GROUP Ltd increased its stake in shares of Worthington Steel by 54.5% during 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 in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Worthington Steel during the 2nd quarter worth about $1,594,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Worthington Steel by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,296 shares of the company’s stock valued at $10,927,000 after buying an additional 36,488 shares in the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Trading Down 2.8 %

NYSE:WS opened at $42.12 on Friday. The stock has a 50 day moving average of $40.62 and a two-hundred day moving average of $36.05. Worthington Steel, Inc. has a 12 month low of $23.82 and a 12 month high of $47.19. The firm has a market cap of $2.14 billion and a P/E ratio of 16.98.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $834.00 million during the quarter, compared to analysts’ expectations 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 was down 7.9% compared to the same quarter last year. On average, research analysts forecast that Worthington Steel, Inc. will post 2.95 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, December 13th. Worthington Steel’s dividend payout ratio (DPR) is 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.