Strs Ohio Acquires Shares of 23,100 Worthington Steel, Inc. $WS

Key Points

• Strs Ohio has acquired a new stake in Worthington Steel, Inc. (NYSE:WS), purchasing 23,100 shares valued at approximately $585,000.
• Several institutional investors have increased their holdings in Worthington Steel, with American Century Companies Inc. leading with a 966.1% increase.
• Worthington Steel recently declared a quarterly dividend of $0.16 per share, with an annualized yield of 1.9%.

Strs Ohio bought a new position in Worthington Steel, Inc. (NYSE:WS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,100 shares of the company's stock, valued at approximately $585,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Worthington Steel by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company's stock valued at $589,000 after acquiring an additional 634 shares during the period. Nuveen Asset Management LLC raised its holdings in Worthington Steel by 3.6% in the 4th quarter. Nuveen Asset Management LLC now owns 445,698 shares of the company's stock valued at $14,182,000 after acquiring an additional 15,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Worthington Steel by 17.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,893 shares of the company's stock valued at $1,810,000 after acquiring an additional 8,583 shares during the period. Jefferies Financial Group Inc. bought a new position in Worthington Steel in the 4th quarter valued at about $1,535,000. Finally, Wellington Management Group LLP raised its holdings in Worthington Steel by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 69,920 shares of the company's stock valued at $2,225,000 after acquiring an additional 434 shares during the period. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Stock Performance

Shares of NYSE WS traded down $0.26 during midday trading on Tuesday, reaching $33.42. The stock had a trading volume of 51,944 shares, compared to its average volume of 271,053. The stock has a 50-day moving average of $32.03 and a 200-day moving average of $28.39. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 15.32 and a beta of 1.88. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month 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, topping analysts' consensus estimates of $0.83 by $0.22. The firm had revenue of $832.90 million during the quarter, compared to analysts' expectations 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 for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 earnings per share. As a group, analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 dividend on an annualized basis and a dividend yield of 1.9%. Worthington Steel's dividend payout ratio is currently 29.36%.

Wall Street Analysts Forecast Growth

WS has been the topic of several research analyst reports. Wall Street Zen raised shares of Worthington Steel from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. KeyCorp increased their price target on shares of Worthington Steel from $34.00 to $36.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $36.00.

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.