Foundry Partners LLC Buys 114,851 Shares of Worthington Steel, Inc. (NYSE:WS)

Foundry Partners LLC boosted its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 110.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,079 shares of the company's stock after purchasing an additional 114,851 shares during the quarter. Foundry Partners LLC owned about 0.43% of Worthington Steel worth $5,549,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of WS. Vanguard Group Inc. lifted its position in Worthington Steel by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company's stock worth $142,154,000 after purchasing an additional 550,181 shares during the period. Lido Advisors LLC bought a new position in Worthington Steel in the fourth quarter worth $5,755,000. First Trust Advisors LP bought a new position in Worthington Steel in the fourth quarter worth $3,706,000. Norges Bank bought a new position in Worthington Steel in the fourth quarter worth $2,234,000. Finally, D. E. Shaw & Co. Inc. lifted its position in Worthington Steel by 959.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 66,725 shares of the company's stock worth $2,123,000 after purchasing an additional 60,428 shares during the period. 45.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Worthington Steel from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th.

Worthington Steel Price Performance

Worthington Steel stock opened at $31.91 on Friday. The stock has a fifty day moving average price of $27.96 and a two-hundred day moving average price of $27.41. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $47.19. The firm has a market capitalization of $1.62 billion, a P/E ratio of 14.64 and a beta of 1.87.

Worthington Steel (NYSE:WS - Get Free Report) last released its quarterly earnings data 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 return on equity of 9.43% and a net margin of 3.58%. The firm had revenue of $832.90 million during the quarter, compared to analyst estimates of $800.45 million. During the same period in the prior year, the company posted $1.06 earnings per share. The business's revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities research analysts predict that Worthington Steel, Inc. will post 2.26 EPS 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. Stockholders of record on Friday, September 12th will be paid a $0.16 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.01%. Worthington Steel's dividend payout ratio (DPR) 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.

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