Cerity Partners LLC Acquires 16,896 Shares of Worthington Steel, Inc. (NYSE:WS)

Cerity Partners LLC increased its holdings in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 227.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,333 shares of the company's stock after purchasing an additional 16,896 shares during the quarter. Cerity Partners LLC's holdings in Worthington Steel were worth $616,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in Worthington Steel by 2.6% during the first quarter. Principal Financial Group Inc. now owns 174,248 shares of the company's stock worth $4,414,000 after acquiring an additional 4,481 shares in the last quarter. PDS Planning Inc raised its position in shares of Worthington Steel by 6.4% in the first quarter. PDS Planning Inc now owns 12,133 shares of the company's stock valued at $307,000 after purchasing an additional 729 shares during the period. Cardinal Capital Management raised its position in shares of Worthington Steel by 8.2% in the first quarter. Cardinal Capital Management now owns 16,069 shares of the company's stock valued at $407,000 after purchasing an additional 1,217 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Worthington Steel by 10,559.8% in the first quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company's stock valued at $248,000 after purchasing an additional 9,715 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in shares of Worthington Steel by 25.6% in the first quarter. Wedge Capital Management L L P NC now owns 51,214 shares of the company's stock valued at $1,297,000 after purchasing an additional 10,428 shares during the period. Institutional investors and hedge funds own 45.41% of the company's stock.

Worthington Steel Trading Up 0.6%

Worthington Steel stock traded up $0.20 during trading hours on Friday, reaching $31.82. 213,305 shares of the stock were exchanged, compared to its average volume of 298,287. The company has a market cap of $1.61 billion, a P/E ratio of 14.60 and a beta of 1.87. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19. The stock has a 50 day moving average of $28.34 and a two-hundred day moving average of $27.47.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.22. The company had revenue of $832.90 million for the quarter, compared to the consensus estimate of $800.45 million. Worthington Steel had a net margin of 3.58% and a return on equity of 9.43%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.06 EPS. On average, analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, September 12th. This represents a $0.64 annualized dividend and a yield of 2.01%. Worthington Steel's payout ratio is 29.36%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Worthington Steel from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th.

Worthington Steel Company Profile

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.