Deutsche Bank AG Lowers Holdings in Worthington Steel, Inc. $WS

Key Points

• Deutsche Bank AG has reduced its holdings in Worthington Steel, Inc. by 40.6%, selling 29,799 shares and owning approximately $1.1 million worth of the company’s stock.
• Recent changes in holdings by other large investors include CWM LLC increasing its stake by 141.5%, indicating growing interest in the company from institutional investors.
• Wall Street analysts have upgraded Worthington Steel from a "hold" to a "buy" rating, with a consensus price target of $34.00.

Deutsche Bank AG trimmed its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 40.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,591 shares of the company's stock after selling 29,799 shares during the quarter. Deutsche Bank AG owned 0.09% of Worthington Steel worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CWM LLC increased its stake in shares of Worthington Steel by 141.5% in the first quarter. CWM LLC now owns 2,186 shares of the company's stock worth $55,000 after buying an additional 1,281 shares during the period. Tower Research Capital LLC TRC increased 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 buying an additional 1,883 shares during the period. Voleon Capital Management LP purchased a new position in shares of Worthington Steel in the fourth quarter worth $213,000. Harbor Capital Advisors Inc. increased its stake in shares of Worthington Steel by 10,559.8% in the first quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company's stock worth $248,000 after buying an additional 9,715 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Worthington Steel in the fourth quarter worth $286,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Worthington Steel Price Performance

WS stock traded down $0.10 during midday trading on Friday, hitting $33.28. The stock had a trading volume of 151,253 shares, compared to its average volume of 195,735. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 15.27 and a beta of 1.87. The business has a 50-day moving average of $31.32 and a two-hundred day moving average of $27.80. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.22. The company 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 for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. Research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 12th. Worthington Steel's dividend payout ratio is presently 29.36%.

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.