Public Sector Pension Investment Board Has $2.81 Million Stock 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 grew its holdings in Worthington Steel, Inc. (NYSE:WS - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent filing with the SEC. 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 SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WS. CWM LLC increased its stake in shares of Worthington Steel by 141.5% in the 1st quarter. CWM LLC now owns 2,186 shares of the company's stock valued at $55,000 after purchasing an additional 1,281 shares during the last quarter. Tower Research Capital LLC TRC grew its position in 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 acquiring an additional 1,883 shares during the last quarter. Voleon Capital Management LP bought a new stake in Worthington Steel during the 4th quarter worth $213,000. Harbor Capital Advisors Inc. grew its position in Worthington Steel by 10,559.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 9,807 shares of the company's stock worth $248,000 after acquiring an additional 9,715 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Worthington Steel by 6.0% during the 4th 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 last quarter. Institutional investors own 45.41% of the company's stock.

Analyst Ratings Changes

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

Worthington Steel Stock Performance

Shares of NYSE:WS traded up $0.0070 during midday trading on Monday, reaching $33.2170. The company's stock had a trading volume of 220,959 shares, compared to its average volume of 193,404. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 15.24 and a beta of 1.87. The firm has a 50 day moving average price of $30.66 and a two-hundred day moving average price of $27.67. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two 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 company had revenue of $832.90 million for the quarter, compared to the consensus estimate of $800.45 million. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%.The firm's revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. As a group, research analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 12th. Worthington Steel's payout ratio is currently 29.36%.

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.