Lido Advisors LLC Buys Shares of 180,853 Worthington Steel, Inc. (NYSE:WS)

Lido Advisors LLC purchased a new position in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 180,853 shares of the company's stock, valued at approximately $5,755,000. Lido Advisors LLC owned approximately 0.36% of Worthington Steel at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. acquired a new position in Worthington Steel during the fourth quarter worth about $41,741,000. Vanguard Group Inc. grew its stake in shares of Worthington Steel by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company's stock worth $142,154,000 after purchasing an additional 550,181 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Worthington Steel in the 4th quarter worth approximately $3,706,000. Bank of New York Mellon Corp lifted its stake in Worthington Steel by 44.6% during the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company's stock valued at $11,424,000 after purchasing an additional 110,662 shares during the last quarter. Finally, Foundry Partners LLC bought a new stake in Worthington Steel during the fourth quarter worth approximately $3,317,000. Institutional investors own 45.41% of the company's stock.

Worthington Steel Trading Up 0.3 %

Shares of WS opened at $25.75 on Wednesday. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The business's 50-day moving average price is $25.51 and its 200 day moving average price is $32.26. The stock has a market capitalization of $1.31 billion, a P/E ratio of 9.04 and a beta of 2.03.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $687.40 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, KeyCorp dropped their price target 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 Company Profile

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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