Nuveen Asset Management LLC Buys 15,684 Shares of Worthington Steel, Inc. (NYSE:WS)

Nuveen Asset Management LLC increased its position in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 445,698 shares of the company's stock after purchasing an additional 15,684 shares during the period. Nuveen Asset Management LLC owned approximately 0.88% of Worthington Steel worth $14,182,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Worthington Steel by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company's stock valued at $142,154,000 after buying an additional 550,181 shares during the period. Pacer Advisors Inc. purchased a new position in Worthington Steel during the 4th quarter valued at $41,741,000. Northern Trust Corp grew its position in Worthington Steel by 9.6% in the 4th quarter. Northern Trust Corp now owns 378,686 shares of the company's stock valued at $12,050,000 after acquiring an additional 33,272 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Worthington Steel by 44.6% in the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company's stock worth $11,424,000 after purchasing an additional 110,662 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Worthington Steel by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company's stock worth $10,529,000 after purchasing an additional 9,584 shares during the period. 45.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Worthington Steel Price Performance

Shares of NYSE:WS traded down $0.46 during trading on Friday, reaching $25.13. 15,709 shares of the company were exchanged, compared to its average volume of 267,444. The business's fifty day simple moving average is $25.40 and its 200-day simple moving average is $30.50. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19. The firm has a market capitalization of $1.28 billion, a PE ratio of 8.82 and a beta of 1.98.

Worthington Steel (NYSE:WS - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share 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 firm had revenue of $687.40 million for the quarter, compared to the consensus estimate of $732.00 million. During the same period last year, the firm earned $0.99 earnings per share. The company's revenue for the quarter was down 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Friday, June 13th. Worthington Steel's dividend payout ratio (DPR) is presently 29.91%.

Worthington Steel Company Profile

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.