Allspring Global Investments Holdings LLC Reduces Position in Worthington Steel, Inc. (NYSE:WS)

Allspring Global Investments Holdings LLC trimmed its holdings in Worthington Steel, Inc. (NYSE:WS) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,403 shares of the company’s stock after selling 13,309 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.27% of Worthington Steel worth $4,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eastern Bank purchased a new stake in shares of Worthington Steel in the third quarter valued at about $99,000. Quadrature Capital Ltd acquired a new position in Worthington Steel in the 3rd quarter valued at about $213,000. MML Investors Services LLC purchased a new stake in shares of Worthington Steel in the 3rd quarter valued at approximately $239,000. Victory Capital Management Inc. increased its holdings in shares of Worthington Steel by 36.8% during the 3rd quarter. Victory Capital Management Inc. now owns 8,523 shares of the company’s stock worth $290,000 after buying an additional 2,291 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Worthington Steel during the 3rd quarter valued at approximately $328,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Stock Performance

WS opened at $28.92 on Friday. The stock has a market capitalization of $1.47 billion, a PE ratio of 10.15 and a beta of 2.59. Worthington Steel, Inc. has a one year low of $27.33 and a one year high of $47.19. The business’s 50 day moving average price is $30.98 and its 200 day moving average price is $35.07.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $740.40 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. As a group, equities research analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, March 14th. Worthington Steel’s dividend payout ratio (DPR) is presently 22.46%.

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.