Worthington Steel, Inc. (NYSE:WS) Position Increased by Swiss National Bank

Swiss National Bank lifted its holdings in Worthington Steel, Inc. (NYSE:WS) by 2.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 64,400 shares of the company’s stock after buying an additional 1,800 shares during the quarter. Swiss National Bank owned approximately 0.13% of Worthington Steel worth $2,049,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quadrature Capital Ltd acquired a new position in Worthington Steel in the third quarter valued at approximately $213,000. MML Investors Services LLC acquired a new position in Worthington Steel during the 3rd quarter valued at approximately $239,000. Victory Capital Management Inc. grew its stake in 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. Raymond James Financial Inc. acquired a new stake in Worthington Steel in the fourth quarter worth $290,000. Finally, Handelsbanken Fonder AB increased its position in Worthington Steel by 23.7% in the fourth quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company’s stock worth $316,000 after buying an additional 1,900 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, KeyCorp reduced their price target on shares of Worthington Steel from $41.00 to $34.00 and set an “overweight” rating for the company in a report on Friday, March 7th.

Worthington Steel Trading Up 1.4 %

Shares of NYSE:WS opened at $26.53 on Friday. The firm’s 50 day moving average is $27.94 and its two-hundred day moving average is $33.86. The firm has a market capitalization of $1.35 billion, a P/E ratio of 9.31 and a beta of 2.62. Worthington Steel, Inc. has a 52 week low of $24.22 and a 52 week high of $47.19.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). The business had revenue of $687.40 million for the quarter, compared to analyst estimates of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The company’s revenue was down 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 EPS. Analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, June 13th. This represents a $0.64 annualized dividend and a yield of 2.41%. Worthington Steel’s payout ratio is 29.91%.

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.