Worthington Steel, Inc. (NYSE:WS) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,900 shares of the company's stock after selling 60,003 shares during the quarter. Renaissance Technologies LLC owned approximately 0.22% of Worthington Steel worth $3,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MML Investors Services LLC acquired a new stake in Worthington Steel in the 3rd quarter worth about $239,000. Barclays PLC boosted its stake in Worthington Steel by 317.9% in the 3rd quarter. Barclays PLC now owns 50,010 shares of the company's stock worth $1,701,000 after buying an additional 38,043 shares during the last quarter. Geode Capital Management LLC boosted its stake in Worthington Steel by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 771,371 shares of the company's stock worth $26,240,000 after buying an additional 41,925 shares during the last quarter. Franklin Resources Inc. boosted its stake in Worthington Steel by 4.2% in the 3rd quarter. Franklin Resources Inc. now owns 29,170 shares of the company's stock worth $995,000 after buying an additional 1,178 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Worthington Steel by 7.9% in the 3rd 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. Hedge funds and other institutional investors own 45.41% of the company's stock.

Analyst Ratings Changes

Separately, KeyCorp decreased their target price 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 Stock Down 0.3 %

Shares of Worthington Steel stock traded down $0.07 during trading hours on Monday, hitting $25.66. The company's stock had a trading volume of 132,063 shares, compared to its average volume of 249,984. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The business has a fifty day moving average of $25.57 and a 200 day moving average of $32.30. The company has a market capitalization of $1.30 billion, a PE ratio of 9.00 and a beta of 2.03.

Worthington Steel (NYSE:WS - Get Free Report) last released its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. During the same period in the previous year, the company earned $0.99 EPS. Worthington Steel's revenue was down 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, June 13th. Worthington Steel's payout ratio is currently 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.