Deutsche Bank AG Sells 29,799 Shares of 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 its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,591 shares of the company's stock after selling 29,799 shares during the quarter. Deutsche Bank AG owned about 0.09% of Worthington Steel worth $1,104,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CWM LLC increased its holdings 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 purchasing an additional 1,281 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 bought a new stake in Worthington Steel during the fourth quarter worth approximately $213,000. XTX Topco Ltd bought a new stake in Worthington Steel during the fourth quarter worth approximately $286,000. Finally, Raymond James Financial Inc. bought a new stake in Worthington Steel during the fourth quarter worth approximately $290,000. 45.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Worthington Steel Price Performance

Shares of NYSE WS opened at $33.1970 on Friday. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The business's 50 day moving average is $30.49 and its two-hundred day moving average is $27.64. The stock has a market capitalization of $1.69 billion, a P/E ratio of 15.23 and a beta of 1.87.

Worthington Steel (NYSE:WS - Get Free Report) last announced 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. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%.The business had revenue of $832.90 million during the quarter, compared to analyst estimates of $800.45 million. During the same quarter in the previous year, the business earned $1.06 earnings per share. The company's revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 12th. Worthington Steel's payout ratio is 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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