Worthington Steel, Inc. (NYSE:WS) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 378,686 shares of the company's stock after purchasing an additional 33,272 shares during the quarter. Northern Trust Corp owned approximately 0.75% of Worthington Steel worth $12,050,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Worthington Steel by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 69,920 shares of the company's stock valued at $2,225,000 after buying an additional 434 shares in the last quarter. Bank of Montreal Can lifted 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 valued at $282,000 after buying an additional 497 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Worthington Steel by 2.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,073 shares of the company's stock valued at $925,000 after buying an additional 769 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Worthington Steel by 4.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,848 shares of the company's stock valued at $568,000 after buying an additional 828 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in Worthington Steel by 5.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 18,939 shares of the company's stock valued at $603,000 after purchasing an additional 904 shares during the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Worthington Steel Price Performance

NYSE WS traded down $0.27 during mid-day trading on Thursday, hitting $26.08. The stock had a trading volume of 114,048 shares, compared to its average volume of 251,029. The firm's 50 day moving average is $25.51 and its 200 day moving average is $31.14. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.15 and a beta of 1.98.

Worthington Steel (NYSE:WS - Get Free Report) last posted 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 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 company posted $0.99 earnings per share. The firm's revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, equities research analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The business also recently announced 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel's dividend payout ratio (DPR) is presently 29.91%.

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.