Janney Montgomery Scott LLC Sells 1,971 Shares of Worthington Steel, Inc. (NYSE:WS)

Janney Montgomery Scott LLC lowered its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,132 shares of the company’s stock after selling 1,971 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Worthington Steel worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC raised its stake in shares of Worthington Steel by 845.4% in the second quarter. CWM LLC now owns 1,021 shares of the company’s stock worth $34,000 after purchasing an additional 913 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Worthington Steel during the first quarter worth $37,000. GAMMA Investing LLC boosted its stake in Worthington Steel by 153.0% during the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock worth $43,000 after buying an additional 759 shares during the last quarter. nVerses Capital LLC purchased a new stake in Worthington Steel in the third quarter valued at $71,000. Finally, Eastern Bank purchased a new stake in shares of Worthington Steel in the 3rd quarter valued at $99,000. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Price Performance

Shares of NYSE WS opened at $43.22 on Friday. The stock’s 50-day moving average is $36.40 and its two-hundred day moving average is $34.44. Worthington Steel, Inc. has a 1-year low of $21.00 and a 1-year high of $47.19. The company has a market cap of $2.19 billion and a price-to-earnings ratio of 17.43.

Worthington Steel (NYSE:WS) last announced its earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $834.00 million during the quarter, compared to analysts’ expectations of $748.40 million. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. Worthington Steel’s revenue for the quarter was down 7.9% on a year-over-year basis. Equities research analysts anticipate that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.48%. Worthington Steel’s dividend payout ratio (DPR) is presently 25.81%.

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.