Deutsche Bank AG Purchases 33,400 Shares of Worthington Steel, Inc. (NYSE:WS)

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

Several other institutional investors have also recently added to or reduced their stakes in WS. Wellington Management Group LLP increased its stake in shares of Worthington Steel by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 69,920 shares of the company's stock valued at $2,225,000 after buying an additional 434 shares during the period. Bank of Montreal Can boosted 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 valued at $282,000 after acquiring an additional 497 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Worthington Steel by 2.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,073 shares of the company's stock valued at $925,000 after purchasing an additional 769 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Worthington Steel by 4.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company's stock worth $568,000 after purchasing an additional 828 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Worthington Steel by 5.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 18,939 shares of the company's stock valued at $603,000 after purchasing an additional 904 shares during the last quarter. 45.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, KeyCorp decreased their price objective on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, March 7th.

Worthington Steel Stock Up 1.9%

Shares of NYSE:WS traded up $0.49 during midday trading on Tuesday, reaching $26.19. 164,730 shares of the company were exchanged, compared to its average volume of 251,728. The firm has a market cap of $1.33 billion, a PE ratio of 9.20 and a beta of 1.98. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The stock has a fifty day simple moving average of $25.47 and a two-hundred day simple moving average of $30.71.

Worthington Steel (NYSE:WS - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The company had revenue of $687.40 million for the quarter, compared to the consensus estimate of $732.00 million. During the same quarter in the previous year, the company posted $0.99 EPS. The business's revenue was down 14.7% on a year-over-year basis. As a group, analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel's payout ratio is 29.91%.

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.