Invesco Ltd. Sells 56,210 Shares of Worthington Steel, Inc. (NYSE:WS)

Invesco Ltd. lessened its position in Worthington Steel, Inc. (NYSE:WS - Free Report) by 26.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 156,633 shares of the company's stock after selling 56,210 shares during the period. Invesco Ltd. owned approximately 0.31% of Worthington Steel worth $4,984,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. KLP Kapitalforvaltning AS purchased a new position in shares of Worthington Steel in the fourth quarter valued at $220,000. Bank of Montreal Can raised its position 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 purchasing an additional 497 shares during the period. Raymond James Financial Inc. bought a new position in Worthington Steel during the 4th quarter worth $290,000. Handelsbanken Fonder AB grew its position in Worthington Steel by 23.7% in the 4th quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company's stock valued at $316,000 after buying an additional 1,900 shares in the last quarter. Finally, Park National Corp OH bought a new stake in shares of Worthington Steel during the 4th quarter worth about $410,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Worthington Steel Trading Up 1.4 %

Shares of NYSE WS traded up $0.36 during mid-day trading on Thursday, reaching $26.02. The company had a trading volume of 37,161 shares, compared to its average volume of 249,197. The company has a 50-day moving average price of $25.46 and a two-hundred day moving average price of $32.21. The stock has a market cap of $1.32 billion, a PE ratio of 9.13 and a beta of 2.03. 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 released its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.32). The firm had revenue of $687.40 million for the quarter, compared to analyst estimates 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 was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, research analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current 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 paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel's payout ratio is presently 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.