Worthington Steel, Inc. (NYSE:WS) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 4.2% in the 3rd quarter, Holdings Channel reports. The fund owned 29,170 shares of the company’s stock after acquiring an additional 1,178 shares during the quarter. Franklin Resources Inc.’s holdings in Worthington Steel were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Worthington Steel by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,393,483 shares of the company’s stock worth $79,845,000 after acquiring an additional 17,783 shares during the period. State Street Corp lifted its position in Worthington Steel by 2.2% in the third quarter. State Street Corp now owns 1,557,031 shares of the company’s stock valued at $52,955,000 after purchasing an additional 33,534 shares during the period. Geode Capital Management LLC boosted its holdings in Worthington Steel by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 771,371 shares of the company’s stock valued at $26,240,000 after purchasing an additional 41,925 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Worthington Steel by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,296 shares of the company’s stock worth $10,927,000 after purchasing an additional 36,488 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Worthington Steel by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 267,935 shares of the company’s stock worth $8,938,000 after buying an additional 6,433 shares in the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Price Performance

WS opened at $32.01 on Friday. Worthington Steel, Inc. has a 12 month low of $23.82 and a 12 month high of $47.19. The stock has a market capitalization of $1.63 billion and a P/E ratio of 12.91. The business has a 50 day simple moving average of $40.73 and a 200-day simple moving average of $36.19.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $740.40 million. During the same period last year, the business posted $0.11 EPS. Worthington Steel’s revenue was down 8.5% compared to the same quarter last year. Research analysts anticipate that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Worthington Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.64 annualized dividend and a yield of 2.00%. Worthington Steel’s payout ratio is currently 22.46%.

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.