GAMMA Investing LLC Increases Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

GAMMA Investing LLC increased its holdings in Worthington Steel, Inc. (NYSE:WS - Free Report) by 1,317.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,656 shares of the company's stock after buying an additional 18,269 shares during the quarter. GAMMA Investing LLC's holdings in Worthington Steel were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WS. Anchor Investment Management LLC purchased a new stake in shares of Worthington Steel during the 4th quarter worth about $32,000. Tower Research Capital LLC TRC raised its stake in shares of Worthington Steel by 82.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock worth $132,000 after buying an additional 1,883 shares during the period. Voleon Capital Management LP acquired a new stake in Worthington Steel in the 4th quarter valued at $213,000. KLP Kapitalforvaltning AS purchased a new stake in Worthington Steel in the 4th quarter worth $220,000. Finally, Bank of Montreal Can raised its position in Worthington Steel by 6.0% during the fourth quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock worth $282,000 after acquiring an additional 497 shares during the period. Institutional investors and hedge funds own 45.41% of the company's stock.

Wall Street Analyst Weigh In

Separately, KeyCorp dropped their target price on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th.

Worthington Steel Price Performance

WS stock traded down $0.67 during trading on Friday, hitting $24.55. The stock had a trading volume of 688,267 shares, compared to its average volume of 258,477. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19. The company's 50-day moving average price is $25.69 and its two-hundred day moving average price is $28.56. The stock has a market capitalization of $1.25 billion, a P/E ratio of 11.47 and a beta of 1.64.

Worthington Steel (NYSE:WS - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.32). The business had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. Worthington Steel had a net margin of 3.41% and a return on equity of 9.58%. Worthington Steel's quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. As a group, sell-side analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

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.