Public Sector Pension Investment Board Raises Position in Worthington Steel, Inc. $WS

Key Points

• The Public Sector Pension Investment Board has increased its stake in Worthington Steel by 27.5%, now owning 111,108 shares worth approximately $2.8 million.
• Worthington Steel reported $1.05 earnings per share for the last quarter, exceeding analysts' expectations of $0.83, and had a revenue of $832.90 million.
• The company announced a quarterly dividend of $0.16 per share, with annualized dividends amounting to $0.64 and a yield of 2.0%.

Public Sector Pension Investment Board increased its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 27.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,108 shares of the company's stock after purchasing an additional 23,985 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of Worthington Steel worth $2,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WS. CWM LLC lifted its holdings in shares of Worthington Steel by 141.5% during the 1st quarter. CWM LLC now owns 2,186 shares of the company's stock valued at $55,000 after buying an additional 1,281 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Worthington Steel by 82.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock valued at $132,000 after acquiring an additional 1,883 shares during the period. Voleon Capital Management LP purchased a new position in Worthington Steel in the fourth quarter worth about $213,000. Harbor Capital Advisors Inc. grew its stake in shares of Worthington Steel by 10,559.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company's stock valued at $248,000 after purchasing an additional 9,715 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of 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 purchasing an additional 497 shares during the period. Institutional investors own 45.41% of the company's stock.

Worthington Steel Trading Up 5.7%

Shares of WS traded up $1.7970 during trading hours on Friday, reaching $33.1970. 280,390 shares of the stock traded hands, compared to its average volume of 190,046. The company has a market cap of $1.69 billion, a P/E ratio of 15.23 and a beta of 1.87. The company's 50-day moving average price is $30.49 and its two-hundred day moving average price is $27.64. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.22. The business had revenue of $832.90 million during the quarter, compared to analyst estimates of $800.45 million. Worthington Steel had a net margin of 3.58% and a return on equity of 9.43%. The company's revenue was down 8.6% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. On average, research analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given 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 1.9%. Worthington Steel's dividend payout ratio (DPR) is 29.36%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Worthington Steel from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $34.00.

Worthington Steel 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.