JPMorgan Chase & Co. Acquires 26,809 Shares of Worthington Steel, Inc. (NYSE:WS)

JPMorgan Chase & Co. lifted its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 46.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,141 shares of the company’s stock after purchasing an additional 26,809 shares during the period. JPMorgan Chase & Co. owned 0.17% of Worthington Steel worth $2,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System boosted its holdings 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 worth $2,193,000 after acquiring an additional 305 shares during the period. PNC Financial Services Group Inc. boosted its stake in Worthington Steel by 1.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 28,304 shares of the company’s stock worth $963,000 after purchasing an additional 350 shares during the period. GAMMA Investing LLC grew its holdings in Worthington Steel by 153.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after buying an additional 759 shares in the last quarter. Amalgamated Bank boosted its position in shares of Worthington Steel by 8.9% in the third quarter. Amalgamated Bank now owns 10,173 shares of the company’s stock valued at $346,000 after acquiring an additional 830 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in Worthington Steel by 3.9% during the third quarter. Coldstream Capital Management Inc. now owns 21,935 shares of the company’s stock valued at $747,000 after acquiring an additional 833 shares in the last quarter. 45.41% of the stock is owned by institutional investors.

Worthington Steel Stock Performance

Shares of WS stock opened at $30.33 on Monday. The company has a market capitalization of $1.54 billion and a PE ratio of 10.64. Worthington Steel, Inc. has a 52-week low of $27.28 and a 52-week high of $47.19. The business’s fifty day moving average is $38.22 and its 200 day moving average is $36.18.

Worthington Steel (NYSE:WS) last issued its quarterly 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 business’s revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. On average, sell-side analysts forecast that Worthington Steel, Inc. will post 2.95 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel’s payout ratio is 22.46%.

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.