PNC Financial Services Group Inc. Increases Stake in Worthington Steel, Inc. (NYSE:WS)

PNC Financial Services Group Inc. increased its position in Worthington Steel, Inc. (NYSE:WS) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,073 shares of the company’s stock after acquiring an additional 769 shares during the quarter. PNC Financial Services Group Inc. owned about 0.06% of Worthington Steel worth $925,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Haven Private LLC purchased a new position in Worthington Steel in the fourth quarter worth $671,000. Jackson Creek Investment Advisors LLC acquired a new stake in Worthington Steel in the 4th quarter valued at about $1,444,000. Raymond James Financial Inc. acquired a new stake in shares of Worthington Steel during the 4th quarter worth approximately $290,000. Proficio Capital Partners LLC purchased a new stake in Worthington Steel in the fourth quarter valued at approximately $649,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Worthington Steel by 80.9% in the fourth quarter. Victory Capital Management Inc. now owns 15,420 shares of the company’s stock valued at $491,000 after purchasing an additional 6,897 shares during the period. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Trading Down 2.0 %

Shares of Worthington Steel stock opened at $26.11 on Tuesday. Worthington Steel, Inc. has a twelve month low of $24.22 and a twelve month high of $47.19. The company has a fifty day moving average price of $28.50 and a 200 day moving average price of $34.23. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 9.16 and a beta of 2.62.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data 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 return on equity of 12.59% and a net margin of 4.36%. The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $740.40 million. During the same period in the prior year, the firm posted $0.11 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid 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 dividend yield of 2.45%. Worthington Steel’s dividend payout ratio (DPR) is presently 22.46%.

Analyst Ratings Changes

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

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.