Geode Capital Management LLC Acquires 41,925 Shares of Worthington Steel, Inc. (NYSE:WS)

Geode Capital Management LLC raised its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 771,371 shares of the company’s stock after acquiring an additional 41,925 shares during the quarter. Geode Capital Management LLC owned approximately 1.52% of Worthington Steel worth $26,240,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in Worthington Steel by 317.9% in the third quarter. Barclays PLC now owns 50,010 shares of the company’s stock worth $1,701,000 after purchasing an additional 38,043 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Worthington Steel by 113.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 13,314 shares of the company’s stock worth $453,000 after purchasing an additional 7,068 shares in the last quarter. MML Investors Services LLC purchased a new position in Worthington Steel during the 3rd quarter worth $239,000. Jane Street Group LLC increased its position in Worthington Steel by 44.5% during the 3rd quarter. Jane Street Group LLC now owns 68,744 shares of the company’s stock valued at $2,338,000 after buying an additional 21,172 shares in the last quarter. Finally, State Street Corp raised its stake in Worthington Steel by 2.2% in the third quarter. State Street Corp now owns 1,557,031 shares of the company’s stock valued at $52,955,000 after buying an additional 33,534 shares during the last quarter. 45.41% of the stock is owned by institutional investors.

Worthington Steel Stock Performance

Shares of NYSE WS opened at $32.54 on Friday. Worthington Steel, Inc. has a fifty-two week low of $23.82 and a fifty-two week high of $47.19. The company has a market cap of $1.65 billion and a PE ratio of 13.12. The business has a 50-day simple moving average of $40.79 and a two-hundred day simple moving average of $36.19.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.37). The company had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $740.40 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 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. On average, sell-side analysts predict that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, March 14th. Worthington Steel’s dividend payout ratio (DPR) is currently 22.46%.

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.