D. E. Shaw & Co. Inc. Purchases 60,428 Shares of Worthington Steel, Inc. (NYSE:WS)

D. E. Shaw & Co. Inc. boosted its holdings in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 959.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,725 shares of the company's stock after buying an additional 60,428 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.13% of Worthington Steel worth $2,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 buying an additional 550,181 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Worthington Steel during the fourth quarter valued at approximately $41,741,000. Northern Trust Corp lifted its holdings in Worthington Steel by 9.6% during the fourth quarter. Northern Trust Corp now owns 378,686 shares of the company's stock valued at $12,050,000 after purchasing an additional 33,272 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Worthington Steel by 44.6% in the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company's stock worth $11,424,000 after purchasing an additional 110,662 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Worthington Steel by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company's stock worth $10,529,000 after purchasing an additional 9,584 shares in the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Price Performance

Shares of NYSE WS traded down $0.44 during mid-day trading on Monday, reaching $25.66. The company's stock had a trading volume of 222,511 shares, compared to its average volume of 252,046. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19. The stock has a fifty day moving average of $25.47 and a two-hundred day moving average of $30.71. The firm has a market capitalization of $1.30 billion, a PE ratio of 9.00 and a beta of 1.98.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.32). The business had revenue of $687.40 million during the quarter, compared to the consensus estimate of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The company's revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 earnings per share. Analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.49%. Worthington Steel's dividend payout ratio is 29.91%.

Analysts Set New Price Targets

Separately, KeyCorp lowered their target price on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th.

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.