Bank of America Corp DE decreased its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 60.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,075 shares of the company's stock after selling 73,957 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of Worthington Steel worth $1,562,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in Worthington Steel during the 4th quarter valued at about $649,000. Handelsbanken Fonder AB lifted its holdings in Worthington Steel by 23.7% during the 4th quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company's stock valued at $316,000 after buying an additional 1,900 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Worthington Steel by 2.3% during the 4th quarter. New York State Teachers Retirement System now owns 65,974 shares of the company's stock valued at $2,099,000 after buying an additional 1,487 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Worthington Steel by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company's stock valued at $10,529,000 after buying an additional 9,584 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Worthington Steel by 51.3% in the 4th quarter. JPMorgan Chase & Co. now owns 128,830 shares of the company's stock valued at $4,099,000 after purchasing an additional 43,689 shares in the last quarter. Institutional investors own 45.41% of the company's stock.
Worthington Steel Price Performance
Shares of NYSE:WS traded up $0.65 during trading hours on Friday, hitting $25.97. The company's stock had a trading volume of 213,833 shares, compared to its average volume of 256,746. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.11 and a beta of 1.64. The firm's fifty day moving average price is $25.38 and its 200 day moving average price is $29.56.
Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business had revenue of $687.40 million during the quarter, compared to the consensus estimate of $732.00 million. During the same quarter in the prior year, the firm posted $0.99 EPS. The company's revenue for the quarter was down 14.7% compared to the same quarter last year. On average, equities research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.
Worthington Steel Announces Dividend
The company also recently disclosed 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 2.46%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel's payout ratio is currently 29.91%.
Wall Street Analyst Weigh In
Separately, KeyCorp reduced their price target on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, March 7th.
View Our Latest Analysis on WS
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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