Victory Capital Management Inc. Has $491,000 Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Victory Capital Management Inc. lifted its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 80.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,420 shares of the company’s stock after purchasing an additional 6,897 shares during the period. Victory Capital Management Inc.’s holdings in Worthington Steel were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new position in Worthington Steel during the third quarter valued at $213,000. MML Investors Services LLC acquired a new position in Worthington Steel during the third quarter valued at $239,000. Handelsbanken Fonder AB raised its position in Worthington Steel by 23.7% during the fourth quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company’s stock valued at $316,000 after buying an additional 1,900 shares during the period. Park National Corp OH acquired a new position in Worthington Steel during the fourth quarter valued at $410,000. Finally, Public Employees Retirement System of Ohio raised its position in Worthington Steel by 113.2% during the third quarter. Public Employees Retirement System of Ohio now owns 13,314 shares of the company’s stock valued at $453,000 after buying an additional 7,068 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Trading Down 6.0 %

NYSE:WS opened at $26.21 on Friday. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.20 and a beta of 2.62. Worthington Steel, Inc. has a 1-year low of $24.22 and a 1-year high of $47.19. The business’s fifty day moving average price is $28.23 and its 200 day moving average price is $34.02.

Worthington Steel (NYSE:WS) last issued its earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. During the same period in the previous year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. Equities analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.44%. The ex-dividend date is Friday, June 13th. Worthington Steel’s payout ratio is currently 22.46%.

Wall Street Analyst Weigh In

Separately, KeyCorp dropped their price target on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th.

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.