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

Cerity Partners LLC raised its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 227.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 24,333 shares of the company's stock after purchasing an additional 16,896 shares during the period. Cerity Partners LLC's holdings in Worthington Steel were worth $616,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Worthington Steel by 1,317.2% during the 1st quarter. GAMMA Investing LLC now owns 19,656 shares of the company's stock valued at $498,000 after acquiring an additional 18,269 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Worthington Steel by 10,559.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company's stock worth $248,000 after acquiring an additional 9,715 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 worth $4,099,000 after acquiring an additional 43,689 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Worthington Steel by 67.3% in the 4th quarter. HighTower Advisors LLC now owns 30,194 shares of the company's stock worth $961,000 after acquiring an additional 12,149 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Worthington Steel by 3.6% in the 4th quarter. Nuveen Asset Management LLC now owns 445,698 shares of the company's stock worth $14,182,000 after buying an additional 15,684 shares during the last quarter. Institutional investors and hedge funds own 45.41% of the company's stock.

Worthington Steel Stock Performance

NYSE WS traded down $0.43 during trading on Monday, hitting $31.40. 180,192 shares of the company's stock traded hands, compared to its average volume of 263,990. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 14.40 and a beta of 1.87. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19. The business has a 50 day moving average of $28.51 and a 200-day moving average of $27.45.

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

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, September 12th. Worthington Steel's dividend payout ratio (DPR) 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 report on Saturday, July 5th.

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.