Nuveen Asset Management LLC Acquires 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 its most recent disclosure with the Securities & Exchange Commission. The fund owned 445,698 shares of the company's stock after buying an additional 15,684 shares during the period. Nuveen Asset Management LLC owned 0.88% of Worthington Steel worth $14,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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. Pacer Advisors Inc. acquired a new stake in Worthington Steel in the fourth quarter worth $41,741,000. Northern Trust Corp grew its holdings in Worthington Steel by 9.6% in the fourth quarter. Northern Trust Corp now owns 378,686 shares of the company's stock worth $12,050,000 after purchasing an additional 33,272 shares during the period. Bank of New York Mellon Corp grew its holdings 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. grew its holdings 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. Institutional investors own 45.41% of the company's stock.

Worthington Steel Stock Performance

Shares of Worthington Steel stock traded down $0.69 during trading hours on Wednesday, reaching $25.57. The company's stock had a trading volume of 214,701 shares, compared to its average volume of 252,107. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $47.19. The company has a market capitalization of $1.30 billion, a P/E ratio of 8.97 and a beta of 1.98. The stock's fifty day simple moving average is $25.44 and its two-hundred day simple moving average is $30.68.

Worthington Steel (NYSE:WS - Get Free Report) last released its quarterly 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 in the previous year, the business earned $0.99 earnings per share. The firm's revenue for the quarter was down 14.7% on a year-over-year basis. As a group, research analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given 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 of this dividend is Friday, June 13th. Worthington Steel's payout ratio is currently 29.91%.

Wall Street Analyst Weigh In

Separately, KeyCorp reduced their price target 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.

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.