HighTower Advisors LLC Decreases Stock Position in Worthington Steel, Inc. (NYSE:WS)

HighTower Advisors LLC reduced its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,045 shares of the company’s stock after selling 711 shares during the quarter. HighTower Advisors LLC’s holdings in Worthington Steel were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WS. CWM LLC increased its position in Worthington Steel by 845.4% during the 2nd quarter. CWM LLC now owns 1,021 shares of the company’s stock worth $34,000 after purchasing an additional 913 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Worthington Steel by 153.0% during the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock worth $43,000 after buying an additional 759 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. Eastern Bank acquired a new position in shares of Worthington Steel in the third quarter valued at approximately $99,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Worthington Steel during the second quarter valued at approximately $208,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Steel Stock Performance

Shares of NYSE WS opened at $32.46 on Friday. The firm has a market cap of $1.65 billion and a P/E ratio of 13.09. 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 price is $40.95 and its 200 day moving average price is $36.16.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.37). The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $740.40 million. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. Worthington Steel’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 EPS. As a group, equities analysts predict that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. 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.