Bridgeway Capital Management LLC Makes New $3.39 Million Investment in Worthington Steel, Inc. $WS

Key Points

• Bridgeway Capital Management LLC acquired 134,000 shares of Worthington Steel, valued at roughly $3.39 million, representing a 0.26% stake in the company.
• Worthington Steel's stock recently opened at $32.96, with a one-year range between $21.30 and $47.19, and has a market cap of $1.68 billion.
• The company announced a quarterly dividend of $0.16 per share, with a dividend yield of 1.9%, reflecting a payout ratio of 29.36%.

Bridgeway Capital Management LLC acquired a new stake in Worthington Steel, Inc. (NYSE:WS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 134,000 shares of the company's stock, valued at approximately $3,394,000. Bridgeway Capital Management LLC owned 0.26% of Worthington Steel as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Worthington Steel by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 69,920 shares of the company's stock worth $2,225,000 after buying an additional 434 shares during the period. HighTower Advisors LLC raised its holdings in shares of Worthington Steel by 2.0% in the 1st quarter. HighTower Advisors LLC now owns 30,812 shares of the company's stock worth $780,000 after purchasing an additional 618 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Worthington Steel by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company's stock valued at $589,000 after purchasing an additional 634 shares in the last quarter. PDS Planning Inc grew its holdings in shares of Worthington Steel by 6.4% during the 1st quarter. PDS Planning Inc now owns 12,133 shares of the company's stock worth $307,000 after purchasing an additional 729 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Worthington Steel by 4.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company's stock worth $568,000 after purchasing an additional 828 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Worthington Steel from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $34.00.

Worthington Steel Trading Up 3.2%

NYSE:WS traded up $1.00 during mid-day trading on Wednesday, hitting $31.95. The stock had a trading volume of 103,990 shares, compared to its average volume of 265,519. The company has a 50 day simple moving average of $31.82 and a 200-day simple moving average of $27.97. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 14.63 and a beta of 1.88. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last posted its earnings results on Wednesday, June 25th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.83 by $0.22. The firm had revenue of $832.90 million for the quarter, compared to analysts' expectations of $800.45 million. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%.The firm's revenue was down 8.6% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. As a group, equities research analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.16 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.64 annualized dividend and a dividend yield of 2.0%. Worthington Steel's dividend payout ratio (DPR) is 29.36%.

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.