Worthington Steel, Inc. (NYSE:WS) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its holdings in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 92.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,046 shares of the company's stock after selling 13,545 shares during the period. DekaBank Deutsche Girozentrale's holdings in Worthington Steel were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Anchor Investment Management LLC purchased a new stake in shares of Worthington Steel during the fourth quarter worth approximately $32,000. Tower Research Capital LLC TRC raised its holdings in shares of Worthington Steel by 82.7% in the 4th 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 in the last quarter. Voleon Capital Management LP purchased a new stake in shares of Worthington Steel during the 4th quarter worth $213,000. KLP Kapitalforvaltning AS acquired a new position in shares of Worthington Steel during the fourth quarter worth $220,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Worthington Steel by 10,559.8% during the first quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company's stock worth $248,000 after purchasing an additional 9,715 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Stock Up 1.7%

WS traded up $0.55 on Thursday, reaching $32.24. The company's stock had a trading volume of 233,688 shares, compared to its average volume of 258,947. The stock has a 50 day moving average of $27.72 and a two-hundred day moving average of $27.44. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 14.79 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.

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

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.16 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.64 annualized dividend and a yield of 1.99%. Worthington Steel's dividend payout ratio is presently 29.36%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Worthington Steel from a "hold" rating to a "buy" rating in a research note 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.