Renaissance Technologies LLC Sells 60,003 Shares of Worthington Steel, Inc. (NYSE:WS)

Renaissance Technologies LLC lessened its stake in Worthington Steel, Inc. (NYSE:WS) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 about 0.22% of Worthington Steel worth $3,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WS. Legal & General Group Plc raised its position in shares of Worthington Steel by 3.4% in the 4th quarter. Legal & General Group Plc now owns 100,555 shares of the company’s stock valued at $3,200,000 after buying an additional 3,342 shares in the last quarter. Bank of Montreal Can increased its stake in Worthington Steel by 6.0% in the fourth quarter. Bank of Montreal Can now owns 8,848 shares of the company’s stock valued at $282,000 after acquiring an additional 497 shares during the last quarter. Russell Investments Group Ltd. raised its position in Worthington Steel by 5.2% during the fourth quarter. Russell Investments Group Ltd. now owns 79,306 shares of the company’s stock valued at $2,524,000 after purchasing an additional 3,952 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Worthington Steel by 14.0% during the fourth quarter. Wells Fargo & Company MN now owns 30,424 shares of the company’s stock worth $968,000 after purchasing an additional 3,734 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Worthington Steel in the 4th quarter valued at $3,317,000. Institutional investors own 45.41% of the company’s stock.

Analyst Ratings Changes

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

Worthington Steel Trading Up 4.0 %

WS opened at $24.55 on Wednesday. The company has a market cap of $1.25 billion, a P/E ratio of 8.61 and a beta of 2.03. The company’s 50 day moving average is $25.86 and its 200-day moving average is $32.54. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19.

Worthington Steel (NYSE:WS) last issued its earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). The company had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 EPS. On average, equities analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.61%. Worthington Steel’s payout ratio 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.