Worthington Steel, Inc. (NYSE:WS) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Worthington Steel, Inc. (NYSE:WS) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,757 shares of the company’s stock after buying an additional 11,976 shares during the period. Principal Financial Group Inc. owned about 0.32% of Worthington Steel worth $5,569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WS. Amalgamated Bank boosted its position in Worthington Steel by 8.9% in the 3rd quarter. Amalgamated Bank now owns 10,173 shares of the company’s stock valued at $346,000 after buying an additional 830 shares during the period. New York State Teachers Retirement System raised its stake in shares of Worthington Steel by 0.5% in the third quarter. New York State Teachers Retirement System now owns 64,487 shares of the company’s stock valued at $2,193,000 after acquiring an additional 305 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Worthington Steel by 10.0% in the third quarter. State of Alaska Department of Revenue now owns 19,841 shares of the company’s stock valued at $674,000 after purchasing an additional 1,796 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Worthington Steel by 8.4% in the third quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the company’s stock valued at $571,000 after purchasing an additional 1,300 shares during the period. Finally, Eastern Bank acquired a new position in Worthington Steel during the 3rd quarter worth $99,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Steel Price Performance

WS stock opened at $43.96 on Thursday. The business’s 50-day moving average is $37.13 and its two-hundred day moving average is $34.71. The firm has a market capitalization of $2.23 billion and a P/E ratio of 17.72. Worthington Steel, Inc. has a 1 year low of $21.00 and a 1 year high of $47.19.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The firm had revenue of $834.00 million for the quarter, compared to analyst estimates of $748.40 million. The firm’s revenue was down 7.9% compared to the same quarter last year. On average, analysts expect that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.46%. Worthington Steel’s dividend payout ratio (DPR) is currently 25.81%.

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.