Van ECK Associates Corp Raises Stake in Worthington Steel, Inc. (NYSE:WS)

Van ECK Associates Corp boosted its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 4.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 50,354 shares of the company’s stock after purchasing an additional 2,147 shares during the period. Van ECK Associates Corp owned approximately 0.10% of Worthington Steel worth $1,602,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eastern Bank acquired a new stake in shares of Worthington Steel in the 3rd quarter worth $99,000. Quadrature Capital Ltd acquired a new stake in shares of Worthington Steel in the 3rd quarter worth $213,000. MML Investors Services LLC acquired a new stake in shares of Worthington Steel in the 3rd quarter worth $239,000. Victory Capital Management Inc. lifted its stake in shares of Worthington Steel by 36.8% in the 3rd quarter. Victory Capital Management Inc. now owns 8,523 shares of the company’s stock worth $290,000 after acquiring an additional 2,291 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Worthington Steel in the 3rd quarter worth $328,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Stock Down 1.8 %

Shares of NYSE WS opened at $28.39 on Friday. Worthington Steel, Inc. has a 52 week low of $27.33 and a 52 week high of $47.19. The firm has a 50-day moving average price of $30.70 and a 200 day moving average price of $35.04. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.96 and a beta of 2.59.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The company had revenue of $739.00 million during the quarter, compared to analyst estimates of $740.40 million. During the same quarter last year, the business earned $0.11 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, March 14th. Worthington Steel’s dividend payout ratio (DPR) 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.