Dynamic Technology Lab Private Ltd Invests $607,000 in Worthington Steel, Inc. $WS

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in Worthington Steel, purchasing 23,950 shares valued at approximately $607,000.
• Other institutional investors, such as CWM LLC and Harbor Capital Advisors Inc., have also made significant adjustments to their holdings in Worthington Steel during the first quarter.
• Worthington Steel recently declared a quarterly $0.16 dividend, translating to an annualized yield of 2.1%.

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 23,950 shares of the company's stock, valued at approximately $607,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC raised its stake in shares of Worthington Steel by 141.5% during the first quarter. CWM LLC now owns 2,186 shares of the company's stock valued at $55,000 after acquiring an additional 1,281 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Worthington Steel during the first quarter valued at approximately $118,000. Harbor Capital Advisors Inc. raised 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 valued at $248,000 after acquiring an additional 9,715 shares in the last quarter. State of Wyoming raised its stake in shares of Worthington Steel by 52.5% during the fourth quarter. State of Wyoming now owns 11,419 shares of the company's stock valued at $363,000 after acquiring an additional 3,932 shares in the last quarter. Finally, PDS Planning Inc raised its stake in shares of Worthington Steel by 6.4% during the first quarter. PDS Planning Inc now owns 12,133 shares of the company's stock valued at $307,000 after acquiring an additional 729 shares in the last quarter. Institutional investors own 45.41% of the company's stock.

Analysts Set New Price Targets

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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $34.00.

Worthington Steel Price Performance

NYSE:WS traded down $0.13 during mid-day trading on Friday, hitting $33.33. The company's stock had a trading volume of 245,286 shares, compared to its average volume of 186,828. The business's fifty day moving average is $31.86 and its two-hundred day moving average is $28.07. Worthington Steel, Inc. has a 1 year low of $21.30 and a 1 year high of $47.19. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 15.29 and a beta of 1.89.

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

Worthington Steel Announces Dividend

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