177,082 Shares in Worthington Steel, Inc. $WS Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 177,082 shares of Worthington Steel, Inc. valued at approximately $4.5 million, representing about 0.35% ownership of the company.
• Worthington Steel's stock was upgraded from a "hold" rating to a "buy" rating, with a consensus rating of "Buy" and an average price target of $34.00.
• The company recently announced a quarterly dividend of $0.16 per share, with a total annualized dividend yield of 1.9%.

Empowered Funds LLC acquired a new position in Worthington Steel, Inc. (NYSE:WS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 177,082 shares of the company's stock, valued at approximately $4,485,000. Empowered Funds LLC owned about 0.35% of Worthington Steel at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CWM LLC boosted its holdings in Worthington Steel by 141.5% in the 1st quarter. CWM LLC now owns 2,186 shares of the company's stock worth $55,000 after buying an additional 1,281 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Worthington Steel in the 1st quarter worth about $118,000. Harbor Capital Advisors Inc. boosted its holdings in Worthington Steel by 10,559.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company's stock worth $248,000 after buying an additional 9,715 shares during the last quarter. State of Wyoming boosted its holdings in Worthington Steel by 52.5% in the 4th quarter. State of Wyoming now owns 11,419 shares of the company's stock worth $363,000 after buying an additional 3,932 shares during the last quarter. Finally, PDS Planning Inc boosted its holdings in Worthington Steel by 6.4% in the 1st quarter. PDS Planning Inc now owns 12,133 shares of the company's stock worth $307,000 after buying an additional 729 shares during the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Worthington Steel Price Performance

WS opened at $33.45 on Friday. The company's 50 day simple moving average is $31.84 and its two-hundred day simple moving average is $28.04. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 15.34 and a beta of 1.89.

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

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 12th. Worthington Steel's payout ratio is presently 29.36%.

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.

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