Worthington Steel, Inc. (NYSE:WS) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,849 shares of the company’s stock after purchasing an additional 1,331 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Worthington Steel were worth $791,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Worthington Steel by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company’s stock worth $142,154,000 after purchasing an additional 550,181 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Worthington Steel during the 4th quarter worth $41,741,000. Bank of New York Mellon Corp raised its stake in Worthington Steel by 44.6% during the 4th quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company’s stock worth $11,424,000 after acquiring an additional 110,662 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Worthington Steel by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company’s stock valued at $10,529,000 after acquiring an additional 9,584 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Worthington Steel by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 169,767 shares of the company’s stock valued at $5,402,000 after acquiring an additional 6,010 shares in the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Price Performance

Shares of Worthington Steel stock opened at $26.16 on Monday. The firm’s fifty day simple moving average is $25.33 and its 200-day simple moving average is $31.75. Worthington Steel, Inc. has a 12 month low of $21.30 and a 12 month high of $47.19. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.18 and a beta of 1.98.

Worthington Steel (NYSE:WS) last issued 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 for the quarter, compared to analysts’ expectations of $732.00 million. During the same period in the previous year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was down 14.7% on a year-over-year basis. Analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, June 13th. Worthington Steel’s dividend payout ratio is presently 29.91%.

Analysts Set New Price Targets

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 research report 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.