Bank of America Corp DE cut its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 60.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,075 shares of the company's stock after selling 73,957 shares during the quarter. Bank of America Corp DE owned about 0.10% of Worthington Steel worth $1,562,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in WS. Anchor Investment Management LLC acquired a new stake in shares of Worthington Steel in the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC grew its holdings in Worthington Steel by 82.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock valued at $132,000 after purchasing an additional 1,883 shares during the last quarter. Voleon Capital Management LP acquired a new stake in Worthington Steel in the fourth quarter valued at $213,000. KLP Kapitalforvaltning AS acquired a new stake in Worthington Steel in the fourth quarter valued at $220,000. Finally, Bank of Montreal Can grew its holdings in Worthington Steel by 6.0% in the fourth quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock valued at $282,000 after purchasing an additional 497 shares during the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.
Worthington Steel Trading Down 3.5%
Shares of WS stock traded down $0.92 during trading hours on Thursday, hitting $25.34. The company's stock had a trading volume of 178,877 shares, compared to its average volume of 255,896. The business has a fifty day moving average of $25.37 and a 200-day moving average of $30.00. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 8.89 and a beta of 1.65. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19.
Worthington Steel (NYSE:WS - Get Free Report) last released its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm had revenue of $687.40 million for the quarter, compared to analyst estimates of $732.00 million. During the same period in the prior year, the business earned $0.99 earnings per share. Worthington Steel's revenue for the quarter was down 14.7% on a year-over-year basis. On average, equities analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.
Worthington Steel Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel's dividend payout ratio (DPR) is 29.91%.
Analyst Upgrades and Downgrades
Separately, KeyCorp lowered 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 note on Friday, March 7th.
Read 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.
Read More

Before you consider Worthington Steel, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Worthington Steel wasn't on the list.
While Worthington Steel currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.