First Trust Advisors LP Purchases New Shares in Worthington Steel, Inc. (NYSE:WS)

First Trust Advisors LP purchased a new position in Worthington Steel, Inc. (NYSE:WS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 116,466 shares of the company's stock, valued at approximately $3,706,000. First Trust Advisors LP owned approximately 0.23% of Worthington Steel at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Proficio Capital Partners LLC acquired a new position in Worthington Steel during the fourth quarter valued at approximately $649,000. JPMorgan Chase & Co. increased its holdings in Worthington Steel by 46.0% during the third quarter. JPMorgan Chase & Co. now owns 85,141 shares of the company's stock worth $2,896,000 after buying an additional 26,809 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Worthington Steel by 23.7% in the 4th quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company's stock valued at $316,000 after acquiring an additional 1,900 shares during the period. New York State Teachers Retirement System raised its holdings in Worthington Steel by 2.3% in the 4th quarter. New York State Teachers Retirement System now owns 65,974 shares of the company's stock valued at $2,099,000 after acquiring an additional 1,487 shares during the period. Finally, Barclays PLC increased its holdings in Worthington Steel by 317.9% in the 3rd quarter. Barclays PLC now owns 50,010 shares of the company's stock worth $1,701,000 after purchasing an additional 38,043 shares in the last quarter. Institutional investors own 45.41% of the company's stock.

Worthington Steel Price Performance

NYSE WS traded up $0.01 on Thursday, reaching $26.07. The company had a trading volume of 9,579 shares, compared to its average volume of 248,547. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 9.15 and a beta of 1.98. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The business has a 50 day moving average of $25.31 and a two-hundred day moving average of $31.92.

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

Worthington Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.45%. Worthington Steel's dividend payout ratio (DPR) is presently 29.91%.

Analyst Upgrades and Downgrades

Separately, KeyCorp cut their target price on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a research report 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.