JPMorgan Chase & Co. Buys 43,689 Shares of Worthington Steel, Inc. (NYSE:WS)

JPMorgan Chase & Co. boosted its holdings in Worthington Steel, Inc. (NYSE:WS - Free Report) by 51.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,830 shares of the company's stock after buying an additional 43,689 shares during the period. JPMorgan Chase & Co. owned approximately 0.25% of Worthington Steel worth $4,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WS. KLP Kapitalforvaltning AS bought a new position in Worthington Steel during the 4th quarter worth approximately $220,000. MML Investors Services LLC bought a new position in shares of Worthington Steel during the third quarter worth $239,000. Raymond James Financial Inc. acquired a new position in shares of Worthington Steel in the 4th quarter valued at $290,000. Handelsbanken Fonder AB increased its position in shares of 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 acquired a new stake in Worthington Steel during the 4th quarter worth $410,000. 45.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, KeyCorp lowered 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 Price Performance

WS stock traded down $0.33 during trading hours on Friday, reaching $25.42. 26,291 shares of the stock were exchanged, compared to its average volume of 249,567. The firm's 50-day moving average is $25.72 and its 200-day moving average is $32.43. Worthington Steel, Inc. has a 12 month low of $21.30 and a 12 month high of $47.19. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 8.92 and a beta of 2.03.

Worthington Steel (NYSE:WS - Get Free Report) last announced its 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). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The firm had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. During the same period in the prior year, the business posted $0.99 EPS. The firm's quarterly revenue was down 14.7% compared to the same quarter last year. As a group, equities research analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel's dividend 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.