Handelsbanken Fonder AB Increases Stock Position in Worthington Steel, Inc. (NYSE:WS)

Handelsbanken Fonder AB increased its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 24.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,016 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Handelsbanken Fonder AB’s holdings in Worthington Steel were worth $273,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WS. EP Wealth Advisors LLC bought a new stake in Worthington Steel during the 4th quarter valued at $436,000. Wellington Management Group LLP purchased a new position in Worthington Steel in the fourth quarter valued at about $2,113,000. Fisher Asset Management LLC bought a new position in Worthington Steel in the fourth quarter worth about $2,563,000. Vanguard Group Inc. purchased a new stake in shares of Worthington Steel during the fourth quarter valued at about $113,286,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Worthington Steel in the 4th quarter valued at about $857,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Stock Up 1.0 %

Shares of Worthington Steel stock opened at $34.10 on Tuesday. Worthington Steel, Inc. has a 52-week low of $21.00 and a 52-week high of $41.01. The firm’s 50 day moving average price is $33.63 and its 200-day moving average price is $33.54. The company has a market cap of $1.72 billion and a P/E ratio of 13.75.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The business had revenue of $834.00 million for the quarter, compared to the consensus estimate of $748.40 million. Worthington Steel’s revenue was down 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Worthington Steel, Inc. will post 2.95 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.88%. Worthington Steel’s payout ratio is 25.81%.

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.