FIL Ltd Reduces Stake in Worthington Steel, Inc. (NYSE:WS)

FIL Ltd trimmed its stake in Worthington Steel, Inc. (NYSE:WS - Free Report) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,308 shares of the company's stock after selling 17,927 shares during the quarter. FIL Ltd owned about 0.42% of Worthington Steel worth $6,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WS. KLP Kapitalforvaltning AS bought a new position in shares of Worthington Steel in the fourth quarter valued at $220,000. MML Investors Services LLC bought a new position in Worthington Steel in the 3rd quarter valued at about $239,000. Bank of Montreal Can boosted its stake in Worthington Steel by 6.0% during the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock valued at $282,000 after purchasing an additional 497 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Worthington Steel during the 4th quarter worth approximately $290,000. Finally, Handelsbanken Fonder AB raised its stake in shares of 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 purchasing an additional 1,900 shares during the last quarter. 45.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, KeyCorp cut their target price on 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 Price Performance

Shares of WS stock traded up $0.15 on Friday, hitting $24.22. The stock had a trading volume of 178,868 shares, compared to its average volume of 250,135. The business has a 50 day moving average of $26.13 and a 200 day moving average of $32.73. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 8.50 and a beta of 2.03.

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 the consensus estimate of $0.67 by ($0.32). The firm 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%. The company's quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. As a group, research analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 annualized dividend and a yield of 2.64%. Worthington Steel's dividend payout ratio is currently 29.91%.

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.