Northern Trust Corp Grows Position in Worthington Steel, Inc. (NYSE:WS)

Northern Trust Corp grew its holdings in Worthington Steel, Inc. (NYSE:WS - Free Report) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,686 shares of the company's stock after buying an additional 33,272 shares during the quarter. Northern Trust Corp owned about 0.75% of Worthington Steel worth $12,050,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Worthington Steel by 4.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company's stock valued at $568,000 after purchasing an additional 828 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Worthington Steel by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,849 shares of the company's stock worth $791,000 after acquiring an additional 1,331 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Worthington Steel by 82.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock worth $132,000 after purchasing an additional 1,883 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Worthington Steel by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 20,041 shares of the company's stock worth $638,000 after purchasing an additional 1,080 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Worthington Steel during the 4th quarter worth $3,706,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Steel Trading Down 1.9%

NYSE WS traded down $0.51 during trading hours on Wednesday, reaching $26.52. 60,866 shares of the company's stock were exchanged, compared to its average volume of 250,052. The firm has a fifty day moving average of $25.52 and a 200-day moving average of $31.26. The stock has a market cap of $1.35 billion, a PE ratio of 9.30 and a beta of 1.98. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $47.19.

Worthington Steel (NYSE:WS - Get Free Report) last posted its earnings results 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 during the quarter, compared to analyst estimates 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 last year, the business posted $0.99 earnings per share. As a group, research analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.41%. Worthington Steel's dividend payout ratio is currently 29.91%.

Analyst Ratings Changes

Separately, KeyCorp reduced their price objective on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, March 7th.

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.