Foundry Partners LLC Boosts Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Foundry Partners LLC grew its position in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 110.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,079 shares of the company's stock after acquiring an additional 114,851 shares during the quarter. Foundry Partners LLC owned 0.43% of Worthington Steel worth $5,549,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WS. Vanguard Group Inc. boosted its holdings in Worthington Steel by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company's stock valued at $142,154,000 after purchasing an additional 550,181 shares during the period. Nuveen Asset Management LLC grew its position in shares of Worthington Steel by 3.6% in the 4th quarter. Nuveen Asset Management LLC now owns 445,698 shares of the company's stock worth $14,182,000 after buying an additional 15,684 shares during the period. Northern Trust Corp grew its position in Worthington Steel by 9.6% during the 4th quarter. Northern Trust Corp now owns 378,686 shares of the company's stock valued at $12,050,000 after purchasing an additional 33,272 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Worthington Steel by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company's stock worth $10,529,000 after buying an additional 9,584 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Worthington Steel by 0.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 264,787 shares of the company's stock worth $8,426,000 after purchasing an additional 1,700 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Worthington Steel Stock Performance

Shares of Worthington Steel stock traded up $0.90 on Wednesday, reaching $32.80. The stock had a trading volume of 53,657 shares, compared to its average volume of 259,936. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The stock has a market cap of $1.66 billion, a P/E ratio of 15.03 and a beta of 1.87. The business's 50-day moving average price is $28.12 and its two-hundred day moving average price is $27.42.

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, topping analysts' consensus estimates of $0.83 by $0.22. The business had revenue of $832.90 million for the quarter, compared to analyst estimates of $800.45 million. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%. Worthington Steel's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS. As a group, equities analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The company 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 dividend of $0.16 per share. The ex-dividend date is Friday, September 12th. This represents a $0.64 annualized dividend and a yield of 1.95%. Worthington Steel's payout ratio is currently 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.