Charles Schwab Investment Management Inc. Acquires 125,062 Shares of Worthington Steel, Inc. $WS

Charles Schwab Investment Management Inc. boosted its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 37.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,942 shares of the company's stock after buying an additional 125,062 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.90% of Worthington Steel worth $11,549,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WS. Lido Advisors LLC purchased a new position in Worthington Steel in the fourth quarter worth $5,755,000. First Trust Advisors LP purchased a new position in Worthington Steel in the fourth quarter valued at approximately $3,706,000. Foundry Partners LLC lifted its stake in Worthington Steel by 110.2% in the first quarter. Foundry Partners LLC now owns 219,079 shares of the company's stock valued at $5,549,000 after purchasing an additional 114,851 shares during the last quarter. Royce & Associates LP purchased a new position in Worthington Steel in the first quarter valued at approximately $2,863,000. Finally, Vanguard Group Inc. raised its holdings in Worthington Steel by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,529,470 shares of the company's stock valued at $114,731,000 after acquiring an additional 62,042 shares during the period. Institutional investors and hedge funds own 45.41% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Worthington Steel from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Worthington Steel presently has an average rating of "Buy" and an average target price of $34.00.

Worthington Steel Stock Performance

Worthington Steel stock opened at $33.1970 on Monday. The stock has a market cap of $1.69 billion, a P/E ratio of 15.23 and a beta of 1.87. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The firm's fifty day moving average price is $30.49 and its 200-day moving average price is $27.63.

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

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 12th. Worthington Steel's dividend payout ratio is currently 29.36%.

Worthington Steel 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.

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