206,909 Shares in Worthington Steel, Inc. $WS Bought by Keybank National Association OH

Key Points

• KeyBank National Association OH purchased a new stake of 206,909 shares in Worthington Steel in Q4, valued at about $7.16 million and representing roughly 0.41% of the company.
• Worthington Steel missed quarterly estimates with EPS of $0.27 versus a $0.47 consensus (a $0.20 shortfall) and reported revenue of $769.8M versus $882.95M expected, although revenue was up 12% year-over-year.
• The company declared a quarterly dividend of $0.16 ($0.64 annualized, ~1.7% yield) with an ex-dividend date of June 12; analyst coverage is mixed with a consensus "Hold" and an average price target of $46.

Keybank National Association OH purchased a new stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 206,909 shares of the company's stock, valued at approximately $7,163,000. Keybank National Association OH owned 0.41% of Worthington Steel as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MAI Capital Management boosted its holdings in shares of Worthington Steel by 39.8% during the third quarter. MAI Capital Management now owns 1,404 shares of the company's stock worth $43,000 after purchasing an additional 400 shares during the period. Torren Management LLC bought a new stake in shares of Worthington Steel in the 4th quarter worth approximately $48,000. CWM LLC raised its holdings in shares of Worthington Steel by 37.2% during the third quarter. CWM LLC now owns 1,917 shares of the company's stock valued at $58,000 after acquiring an additional 520 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Worthington Steel by 149.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,354 shares of the company's stock valued at $70,000 after acquiring an additional 1,412 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Worthington Steel by 50.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,492 shares of the company's stock worth $104,000 after purchasing an additional 1,178 shares during the period. Hedge funds and other institutional investors own 45.41% of the company's stock.

Worthington Steel Stock Performance

Shares of NYSE WS opened at $38.48 on Friday. The company has a market cap of $1.95 billion, a PE ratio of 22.63 and a beta of 2.06. The firm's 50-day moving average price is $35.21 and its 200-day moving average price is $35.88. Worthington Steel, Inc. has a 52-week low of $24.23 and a 52-week high of $49.17. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 0.03.

Worthington Steel (NYSE:WS - Get Free Report) last posted its earnings results on Thursday, March 26th. The company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.20). Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The firm had revenue of $769.80 million during the quarter, compared to the consensus estimate of $882.95 million. During the same period in the prior year, the company posted $0.35 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Worthington Steel, Inc. will post 2.27 EPS for the current year.

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 12th. Worthington Steel's dividend payout ratio is 37.65%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WS shares. Wall Street Zen cut Worthington Steel from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Worthington Steel in a research report on Monday, April 20th. KeyCorp began coverage on Worthington Steel in a research report on Wednesday, March 25th. They issued an "overweight" rating and a $46.00 price target for the company. Finally, Zacks Research cut shares of Worthington Steel from a "hold" rating to a "strong sell" rating in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $46.00.

Worthington Steel Profile

Worthington Steel NYSE: WS is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.

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