Principal Financial Group Inc. Buys 6,010 Shares of Worthington Steel, Inc. (NYSE:WS)

Principal Financial Group Inc. raised its stake in Worthington Steel, Inc. (NYSE:WS) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 169,767 shares of the company’s stock after buying an additional 6,010 shares during the quarter. Principal Financial Group Inc. owned about 0.33% of Worthington Steel worth $5,402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WS. Pacer Advisors Inc. bought a new position in Worthington Steel in the fourth quarter valued at approximately $41,741,000. Janus Henderson Group PLC lifted its stake in Worthington Steel by 546.5% in the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock valued at $3,179,000 after buying an additional 79,021 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Worthington Steel by 35.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company’s stock valued at $8,948,000 after buying an additional 68,792 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Worthington Steel by 5.7% in the third quarter. Geode Capital Management LLC now owns 771,371 shares of the company’s stock worth $26,240,000 after purchasing an additional 41,925 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of 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 in the last quarter. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Down 2.7 %

Shares of WS stock opened at $25.95 on Tuesday. The company’s fifty day simple moving average is $29.65 and its 200-day simple moving average is $34.80. The firm has a market cap of $1.32 billion, a PE ratio of 9.11 and a beta of 2.59. Worthington Steel, Inc. has a 12 month low of $25.71 and a 12 month high of $47.19.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). The business had revenue of $739.00 million during the quarter, compared to the consensus estimate of $740.40 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. On average, equities analysts predict that Worthington Steel, Inc. will post 2.26 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 given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, March 14th. Worthington Steel’s dividend payout ratio is presently 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.