Dimensional Fund Advisors LP Takes Position in Worthington Steel, Inc. (NYSE:WS)

Dimensional Fund Advisors LP acquired a new stake in shares of Worthington Steel, Inc. (NYSE:WS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,447,165 shares of the company’s stock, valued at approximately $68,769,000. Dimensional Fund Advisors LP owned approximately 4.87% of Worthington Steel at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Worthington Steel in the 4th quarter worth $101,000. Salem Investment Counselors Inc. purchased a new position in shares of Worthington Steel in the fourth quarter worth about $76,000. IFG Advisory LLC bought a new stake in shares of Worthington Steel in the 4th quarter valued at about $337,000. Ritholtz Wealth Management purchased a new stake in Worthington Steel during the 4th quarter valued at about $294,000. Finally, State of Alaska Department of Revenue bought a new position in Worthington Steel during the 4th quarter worth approximately $526,000. Institutional investors own 45.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Seaport Res Ptn reissued a “neutral” rating on shares of Worthington Steel in a research note on Monday, March 11th. KeyCorp increased their price target on shares of Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd.

Insider Activity

In other Worthington Steel news, Director Carl A. Nelson, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $30.89, for a total value of $370,680.00. Following the completion of the sale, the director now directly owns 85,583 shares in the company, valued at $2,643,658.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Worthington Steel Trading Up 1.8 %

NYSE WS opened at $33.17 on Friday. The business has a 50-day simple moving average of $33.39. Worthington Steel, Inc. has a 1 year low of $21.00 and a 1 year high of $40.15.

Worthington Steel (NYSE:WS) last posted its earnings results on Thursday, March 21st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.19. The business had revenue of $805.80 million for the quarter, compared to analysts’ expectations of $664.80 million. Worthington Steel’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that Worthington Steel, Inc. will post 2.92 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.16 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.64 annualized dividend and a dividend yield of 1.93%.

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.