Wedge Capital Management L L P NC Has $1.30 Million Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Wedge Capital Management L L P NC boosted its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,214 shares of the company's stock after buying an additional 10,428 shares during the period. Wedge Capital Management L L P NC owned about 0.10% of Worthington Steel worth $1,297,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WS. Anchor Investment Management LLC purchased a new position in Worthington Steel during the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC raised its holdings in shares of Worthington Steel by 82.7% during the fourth 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 in the last quarter. Voleon Capital Management LP acquired a new stake in Worthington Steel during the fourth quarter valued at $213,000. KLP Kapitalforvaltning AS purchased a new position in Worthington Steel in the fourth quarter valued at about $220,000. Finally, Bank of Montreal Can increased its position in Worthington Steel by 6.0% in the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock worth $282,000 after purchasing an additional 497 shares during the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, KeyCorp reduced their price target on Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, March 7th.

Worthington Steel Trading Up 0.8%

NYSE WS traded up $0.20 during trading on Thursday, reaching $25.45. The company's stock had a trading volume of 277,845 shares, compared to its average volume of 256,995. The stock has a market capitalization of $1.29 billion, a PE ratio of 8.93 and a beta of 1.64. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The business has a 50-day moving average price of $25.53 and a 200-day moving average price of $29.24.

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

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.16 dividend. 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 2.51%. Worthington Steel's dividend payout ratio is currently 29.91%.

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.