Jane Street Group LLC Trims Stock Position in Worthington Steel, Inc. (NYSE:WS)

Jane Street Group LLC decreased its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 54.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,411 shares of the company's stock after selling 37,333 shares during the quarter. Jane Street Group LLC owned 0.06% of Worthington Steel worth $999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Anchor Investment Management LLC purchased a new position in Worthington Steel in the fourth quarter worth about $32,000. Tower Research Capital LLC TRC boosted its holdings in shares of Worthington Steel by 82.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock worth $132,000 after purchasing an additional 1,883 shares during the period. Voleon Capital Management LP purchased a new position in shares of Worthington Steel in the 4th quarter worth approximately $213,000. KLP Kapitalforvaltning AS bought a new position in shares of Worthington Steel during the 4th quarter valued at approximately $220,000. Finally, Bank of Montreal Can raised 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 valued at $282,000 after buying an additional 497 shares during the period. 45.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Worthington Steel Price Performance

Shares of WS traded down $0.69 during mid-day trading on Wednesday, reaching $25.57. 214,701 shares of the company's stock traded hands, compared to its average volume of 252,502. The stock's 50-day moving average is $25.43 and its two-hundred day moving average is $30.64. Worthington Steel, Inc. has a 12 month low of $21.30 and a 12 month high of $47.19. The stock has a market cap of $1.30 billion, a P/E ratio of 8.97 and a beta of 1.98.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.32). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business had revenue of $687.40 million for the quarter, compared to analysts' expectations of $732.00 million. During the same quarter in the previous year, the firm earned $0.99 EPS. Worthington Steel's revenue was down 14.7% compared to the same quarter last year. Research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, June 13th. Worthington Steel's dividend payout ratio is currently 29.91%.

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.