Jefferies Financial Group Inc. purchased a new position in Worthington Steel, Inc. (NYSE:WS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,240 shares of the company's stock, valued at approximately $1,535,000. Jefferies Financial Group Inc. owned approximately 0.10% of Worthington Steel at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its position in Worthington Steel by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 69,920 shares of the company's stock valued at $2,225,000 after acquiring an additional 434 shares in the last quarter. Bank of Montreal Can raised its position in Worthington Steel by 6.0% during the fourth quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock valued at $282,000 after acquiring an additional 497 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Worthington Steel by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company's stock valued at $589,000 after acquiring an additional 634 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Worthington Steel by 2.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 29,073 shares of the company's stock valued at $925,000 after acquiring an additional 769 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Worthington Steel by 4.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company's stock valued at $568,000 after acquiring an additional 828 shares in the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, KeyCorp cut their price objective 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.
Check Out Our Latest Research Report on Worthington Steel
Worthington Steel Price Performance
WS traded up $0.87 during midday trading on Monday, hitting $25.77. 385,233 shares of the company's stock traded hands, compared to its average volume of 254,913. The company has a market cap of $1.31 billion, a PE ratio of 9.04 and a beta of 1.98. The stock's fifty day simple moving average is $25.37 and its 200-day simple moving average is $30.06. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $47.19.
Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.32). The business had revenue of $687.40 million for the quarter, compared to the consensus estimate of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. Worthington Steel's revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. On average, research analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current year.
Worthington Steel Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, June 13th. Worthington Steel's dividend payout ratio is 29.91%.
About Worthington Steel
(
Free Report)
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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