Federated Hermes Inc. Sells 13,164 Shares of Worthington Steel, Inc. (NYSE:WS)

Federated Hermes Inc. cut its holdings in Worthington Steel, Inc. (NYSE:WS) by 89.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,602 shares of the company’s stock after selling 13,164 shares during the quarter. Federated Hermes Inc.’s holdings in Worthington Steel were worth $41,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of WS. Lido Advisors LLC bought a new position in Worthington Steel during the fourth quarter worth about $5,755,000. First Trust Advisors LP bought a new position in Worthington Steel during the fourth quarter worth about $3,706,000. Foundry Partners LLC increased its position in Worthington Steel by 110.2% during the first quarter. Foundry Partners LLC now owns 219,079 shares of the company’s stock worth $5,549,000 after acquiring an additional 114,851 shares during the period. Royce & Associates LP bought a new position in Worthington Steel during the first quarter worth about $2,863,000. Finally, D. E. Shaw & Co. Inc. increased its position in Worthington Steel by 959.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 66,725 shares of the company’s stock worth $2,123,000 after acquiring an additional 60,428 shares during the period. 45.41% of the stock is owned by institutional investors.

Worthington Steel Stock Performance

NYSE:WS opened at $29.85 on Tuesday. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 13.69 and a beta of 1.87. The firm’s 50-day simple moving average is $29.36 and its 200 day simple moving average is $27.45.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Wednesday, June 25th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.22. Worthington Steel had a return on equity of 9.43% and a net margin of 3.58%. The company had revenue of $832.90 million for the quarter, compared to analysts’ expectations of $800.45 million. During the same quarter last year, the business earned $1.06 earnings per share. Worthington Steel’s revenue was down 8.6% on a year-over-year basis. Sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.16 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.1%. Worthington Steel’s dividend payout ratio (DPR) is presently 29.36%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Worthington Steel from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th.

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.