Proficio Capital Partners LLC Takes $649,000 Position in Worthington Steel, Inc. (NYSE:WS)

Proficio Capital Partners LLC bought a new stake in shares of Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,397 shares of the company’s stock, valued at approximately $649,000.

A number of other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in shares of Worthington Steel in the fourth quarter worth approximately $41,741,000. Bank of New York Mellon Corp lifted its position in shares of Worthington Steel by 44.6% during the 4th quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company’s stock worth $11,424,000 after buying an additional 110,662 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Worthington Steel by 546.5% in the 3rd quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock worth $3,179,000 after buying an additional 79,021 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of 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 acquiring an additional 68,792 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Worthington Steel by 5.7% during the third quarter. Geode Capital Management LLC now owns 771,371 shares of the company’s stock valued at $26,240,000 after acquiring an additional 41,925 shares during the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Stock Performance

Shares of WS opened at $26.14 on Monday. The firm has a market cap of $1.33 billion, a P/E ratio of 9.17 and a beta of 2.62. The business has a 50-day moving average of $29.13 and a 200 day moving average of $34.59. Worthington Steel, Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $47.19.

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

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.64 annualized dividend and a yield of 2.45%. Worthington Steel’s dividend payout ratio is currently 22.46%.

Analyst Upgrades and Downgrades

Separately, KeyCorp dropped their target price on shares of Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday.

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.