Lido Advisors LLC Makes New $5.76 Million Investment in Worthington Steel, Inc. (NYSE:WS)

Lido Advisors LLC bought a new stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 180,853 shares of the company's stock, valued at approximately $5,755,000. Lido Advisors LLC owned about 0.36% of Worthington Steel as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of WS. Barclays PLC raised its position in Worthington Steel by 317.9% during the third quarter. Barclays PLC now owns 50,010 shares of the company's stock valued at $1,701,000 after purchasing an additional 38,043 shares during the period. Franklin Resources Inc. raised its holdings in Worthington Steel by 4.2% during the 3rd quarter. Franklin Resources Inc. now owns 29,170 shares of the company's stock valued at $995,000 after buying an additional 1,178 shares during the period. Principal Financial Group Inc. lifted its position in Worthington Steel by 7.9% in the third quarter. Principal Financial Group Inc. now owns 163,757 shares of the company's stock worth $5,569,000 after buying an additional 11,976 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Worthington Steel by 46.0% during the third quarter. JPMorgan Chase & Co. now owns 85,141 shares of the company's stock worth $2,896,000 after buying an additional 26,809 shares during the period. Finally, Park National Corp OH purchased a new position in Worthington Steel during the fourth quarter worth $410,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Price Performance

Shares of WS traded down $0.15 during mid-day trading on Monday, reaching $26.41. 11,984 shares of the company's stock traded hands, compared to its average volume of 249,196. The stock's 50-day moving average is $25.38 and its two-hundred day moving average is $32.06. Worthington Steel, Inc. has a 12 month low of $21.30 and a 12 month high of $47.19. The stock has a market cap of $1.34 billion, a P/E ratio of 9.26 and a beta of 1.98.

Worthington Steel (NYSE:WS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business had revenue of $687.40 million during the quarter, compared to the consensus estimate of $732.00 million. During the same period last year, the company earned $0.99 EPS. The business's revenue was down 14.7% compared to the same quarter last year. 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 declared 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 yield of 2.42%. The ex-dividend date is Friday, June 13th. Worthington Steel's dividend payout ratio is presently 29.91%.

Analysts Set New Price Targets

Separately, KeyCorp lowered their target price on shares of 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 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.