Deutsche Bank AG Raises Holdings in Worthington Steel, Inc. (NYSE:WS)

Deutsche Bank AG lifted its holdings in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 83.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,390 shares of the company's stock after buying an additional 33,400 shares during the quarter. Deutsche Bank AG owned about 0.14% of Worthington Steel worth $2,335,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WS. Anchor Investment Management LLC bought a new stake in Worthington Steel during the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC grew its stake in shares of Worthington Steel by 82.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock worth $132,000 after purchasing an additional 1,883 shares during the last quarter. Voleon Capital Management LP purchased a new position in shares of Worthington Steel during the fourth quarter valued at approximately $213,000. KLP Kapitalforvaltning AS bought a new position in Worthington Steel in the 4th quarter worth $220,000. Finally, Bank of Montreal Can raised its stake in Worthington Steel by 6.0% in the fourth quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock worth $282,000 after buying an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 45.41% of the company's stock.

Worthington Steel Price Performance

NYSE WS traded down $0.41 during trading hours on Wednesday, hitting $25.86. The company's stock had a trading volume of 15,563 shares, compared to its average volume of 268,230. Worthington Steel, Inc. has a 12 month low of $21.30 and a 12 month high of $47.19. The company has a market cap of $1.31 billion, a P/E ratio of 9.07 and a beta of 1.98. The company's 50 day simple moving average is $25.44 and its two-hundred day simple moving average is $30.68.

Worthington Steel (NYSE:WS - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.32). The company had revenue of $687.40 million during the quarter, compared to the consensus estimate of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. Worthington Steel's revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share 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 paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel's dividend payout ratio (DPR) is 29.91%.

Analysts Set New Price Targets

Separately, KeyCorp reduced their target price on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a research report 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.