Teacher Retirement System of Texas Sells 66,189 Shares of Worthington Steel, Inc. (NYSE:WS)

Teacher Retirement System of Texas decreased its holdings in Worthington Steel, Inc. (NYSE:WS - Free Report) by 46.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,820 shares of the company's stock after selling 66,189 shares during the period. Teacher Retirement System of Texas owned approximately 0.15% of Worthington Steel worth $1,971,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WS. Vanguard Group Inc. raised its position in shares of Worthington Steel by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company's stock valued at $142,154,000 after purchasing an additional 550,181 shares during the period. Lido Advisors LLC purchased a new stake in Worthington Steel in the 4th quarter valued at about $5,755,000. First Trust Advisors LP purchased a new stake in shares of Worthington Steel in the 4th quarter worth approximately $3,706,000. Bank of New York Mellon Corp lifted its position in Worthington Steel by 44.6% during the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company's stock valued at $11,424,000 after acquiring an additional 110,662 shares during the last quarter. Finally, Foundry Partners LLC purchased a new stake in Worthington Steel during the fourth quarter valued at approximately $3,317,000. Hedge funds and other institutional investors own 45.41% of the company's stock.

Worthington Steel Stock Performance

Shares of NYSE WS traded up $0.32 during midday trading on Friday, reaching $32.90. 253,430 shares of the company's stock were exchanged, compared to its average volume of 258,939. The stock has a market capitalization of $1.67 billion, a PE ratio of 15.09 and a beta of 1.87. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $47.19. The business's fifty day moving average price is $27.38 and its two-hundred day moving average price is $27.45.

Worthington Steel (NYSE:WS - Get Free Report) last posted its earnings results on Wednesday, June 25th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.83 by $0.22. The company had revenue of $832.90 million during the quarter, compared to analyst estimates of $800.45 million. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%. The business's revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 earnings per share. Analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, September 12th. Worthington Steel's dividend payout ratio is presently 29.36%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Worthington Steel from a "hold" rating to a "buy" rating in a report on Saturday, July 5th.

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.