First Trust Advisors LP Makes New $3.71 Million Investment in Worthington Steel, Inc. (NYSE:WS)

First Trust Advisors LP bought a new stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 116,466 shares of the company's stock, valued at approximately $3,706,000. First Trust Advisors LP owned 0.23% of Worthington Steel at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WS. Proficio Capital Partners LLC purchased a new stake in shares of Worthington Steel in the 4th quarter worth $649,000. JPMorgan Chase & Co. lifted its stake in Worthington Steel by 46.0% in the third quarter. JPMorgan Chase & Co. now owns 85,141 shares of the company's stock worth $2,896,000 after acquiring an additional 26,809 shares during the period. Handelsbanken Fonder AB lifted its stake 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 acquiring an additional 1,900 shares during the period. New York State Teachers Retirement System grew its holdings in Worthington Steel by 2.3% during the 4th quarter. New York State Teachers Retirement System now owns 65,974 shares of the company's stock worth $2,099,000 after acquiring an additional 1,487 shares in the last quarter. Finally, Barclays PLC increased its position in Worthington Steel by 317.9% during the 3rd quarter. Barclays PLC now owns 50,010 shares of the company's stock valued at $1,701,000 after purchasing an additional 38,043 shares during the period. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Price Performance

NYSE WS traded up $0.08 during midday trading on Tuesday, hitting $26.26. 129,149 shares of the company traded hands, compared to its average volume of 249,064. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19. The company's 50-day simple moving average is $25.35 and its 200-day simple moving average is $32.00. The company has a market cap of $1.33 billion, a PE ratio of 9.22 and a beta of 1.98.

Worthington Steel (NYSE:WS - Get Free Report) last posted its earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.32). The company had revenue of $687.40 million during the quarter, compared to analysts' expectations of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. Worthington Steel's revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. On average, research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.44%. The ex-dividend date is Friday, June 13th. Worthington Steel's dividend payout ratio is currently 29.91%.

Analyst Ratings Changes

Separately, KeyCorp dropped their price objective on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th.

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.