Worthington Steel, Inc. $WS Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Worthington Steel by 1.4%, owning approximately 8.93% of the company, which is valued at around $114.73 million.
• Worthington Steel reported quarterly earnings of $1.05 per share, exceeding analysts’ expectations of $0.83, with a total revenue of $832.90 million.
• The company announced a quarterly dividend of $0.16 per share, equating to an annualized dividend of $0.64, representing a yield of 2.0%.

Vanguard Group Inc. raised its holdings in Worthington Steel, Inc. (NYSE:WS - Free Report) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,529,470 shares of the company's stock after acquiring an additional 62,042 shares during the period. Vanguard Group Inc. owned approximately 8.93% of Worthington Steel worth $114,731,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. 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 last quarter. Bank of Montreal Can increased its holdings in shares of Worthington Steel by 6.0% during the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company's stock worth $282,000 after buying an additional 497 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Worthington Steel by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company's stock worth $589,000 after buying an additional 634 shares during the last quarter. PDS Planning Inc increased its holdings in shares of Worthington Steel by 6.4% during the 1st quarter. PDS Planning Inc now owns 12,133 shares of the company's stock worth $307,000 after buying an additional 729 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Worthington Steel by 4.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company's stock worth $568,000 after buying an additional 828 shares during the last quarter. Institutional investors and hedge funds own 45.41% of the company's stock.

Worthington Steel Price Performance

Shares of NYSE WS opened at $31.3560 on Friday. The company has a 50 day simple moving average of $30.32 and a 200-day simple moving average of $27.60. The company has a market capitalization of $1.60 billion, a P/E ratio of 14.38 and a beta of 1.87. Worthington Steel, Inc. has a 1 year low of $21.30 and a 1 year high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The company reported $1.05 earnings per share 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 firm's quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. As a group, research analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, September 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.0%. Worthington Steel's dividend payout ratio (DPR) is presently 29.36%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Worthington Steel from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Worthington Steel presently has a consensus rating of "Buy" and a consensus price target of $34.00.

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.

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