Worthington Steel, Inc. (NYSE:WS) Shares Sold by Bank of America Corp DE

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.

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.