EntryPoint Capital LLC Takes Position in Worthington Steel, Inc. $WS

Key Points

• EntryPoint Capital LLC made a new investment in Worthington Steel, acquiring 13,707 shares worth approximately $347,000 in the first quarter.
• Worthington Steel's recent earnings report showed an EPS of $1.05, exceeding analysts' expectations, but reflected an 8.6% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.16 per share, with a yield of 2.0%, to be paid on September 26th.

EntryPoint Capital LLC purchased a new position in Worthington Steel, Inc. (NYSE:WS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,707 shares of the company's stock, valued at approximately $347,000.

Several other hedge funds have also recently modified their holdings of WS. CWM LLC raised its position in 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 acquiring an additional 1,281 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Worthington Steel by 82.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock valued at $132,000 after buying an additional 1,883 shares during the last quarter. Voleon Capital Management LP bought a new stake in Worthington Steel during the 4th quarter valued at about $213,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Worthington Steel by 10,559.8% in the 1st 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, Bank of Montreal Can grew its holdings in Worthington Steel by 6.0% during the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock worth $282,000 after acquiring an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 45.41% of the company's stock.

Worthington Steel Trading Down 0.5%

NYSE WS traded down $0.18 on Wednesday, hitting $33.42. 51,228 shares of the stock traded hands, compared to its average volume of 269,467. The stock has a 50-day moving average of $30.82 and a 200 day moving average of $27.71. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19. The company has a market capitalization of $1.70 billion, a P/E ratio of 15.30 and a beta of 1.87.

Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $800.45 million. During the same period in the previous year, the business earned $1.06 earnings per share. The company's revenue was down 8.6% on a year-over-year basis. As a group, equities research analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.9%. Worthington Steel's dividend payout ratio is currently 29.36%.

Analyst Ratings Changes

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

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.