WINTON GROUP Ltd Sells 85,626 Shares of Worthington Steel, Inc. $WS

Key Points

• WINTON GROUP Ltd cut its Worthington Steel stake by 50.5% in the fourth quarter, selling 85,626 shares and ending with 83,773 shares valued at about $2.9 million.
• Several other institutional investors also adjusted their positions, and 45.41% of the stock is now owned by institutions.
• Analysts are mixed on WS: KeyCorp lifted its price target to $46 and gave an overweight rating, while the overall consensus remains Hold with a $46 target.

WINTON GROUP Ltd trimmed its holdings in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 50.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,773 shares of the company's stock after selling 85,626 shares during the period. WINTON GROUP Ltd owned 0.16% of Worthington Steel worth $2,900,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WS. Royal Bank of Canada raised its stake in shares of Worthington Steel by 14.8% during the first quarter. Royal Bank of Canada now owns 15,771 shares of the company's stock worth $399,000 after buying an additional 2,038 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Worthington Steel by 89.4% during the first quarter. AQR Capital Management LLC now owns 50,634 shares of the company's stock worth $1,269,000 after buying an additional 23,899 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Worthington Steel by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company's stock worth $490,000 after buying an additional 841 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Worthington Steel during the second quarter worth approximately $670,000. Finally, First Trust Advisors LP raised its stake in shares of Worthington Steel by 3.9% during the second quarter. First Trust Advisors LP now owns 127,877 shares of the company's stock worth $3,815,000 after buying an additional 4,756 shares during the last quarter. 45.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WS has been the subject of a number of recent research reports. KeyCorp boosted their price target on shares of Worthington Steel from $38.00 to $46.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded shares of Worthington Steel from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Zacks Research raised shares of Worthington Steel from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Steel in a research note on Monday, April 20th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.00.

Insider Buying and Selling at Worthington Steel

In other news, CFO Timothy A. Adams sold 2,367 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $42.27, for a total value of $100,053.09. Following the completion of the transaction, the chief financial officer owned 44,098 shares in the company, valued at $1,864,022.46. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey R. Klingler sold 20,036 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $43.82, for a total transaction of $877,977.52. Following the completion of the transaction, the chief operating officer owned 93,212 shares of the company's stock, valued at $4,084,549.84. This trade represents a 17.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 33,708 shares of company stock valued at $1,431,830. Corporate insiders own 2.60% of the company's stock.

Worthington Steel Stock Down 0.0%

Shares of NYSE:WS opened at $41.52 on Monday. Worthington Steel, Inc. has a 52 week low of $24.23 and a 52 week high of $49.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 1.48. The company has a market capitalization of $2.11 billion, a PE ratio of 24.42 and a beta of 2.22. The company has a 50 day moving average price of $36.99 and a two-hundred day moving average price of $37.56.

Worthington Steel (NYSE:WS - Get Free Report) last issued its earnings results on Thursday, March 26th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.20). Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The firm had revenue of $769.80 million during the quarter, compared to the consensus estimate of $882.95 million. During the same period in the previous year, the company posted $0.35 EPS. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Analysts forecast that Worthington Steel, Inc. will post 2.15 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, June 12th. Worthington Steel's dividend payout ratio is presently 37.65%.

Worthington Steel Company Profile

Worthington Steel NYSE: WS is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.

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