Worthington Steel, Inc. $WS Shares Purchased by CSM Advisors LLC

CSM Advisors LLC raised its stake in Worthington Steel, Inc. (NYSE:WS) by 11.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,749 shares of the company’s stock after purchasing an additional 21,132 shares during the quarter. CSM Advisors LLC owned about 0.40% of Worthington Steel worth $6,160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Worthington Steel by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,462,097 shares of the company’s stock worth $74,823,000 after buying an additional 32,717 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Worthington Steel by 695.6% during the 3rd quarter. Alliancebernstein L.P. now owns 969,887 shares of the company’s stock valued at $29,475,000 after buying an additional 847,981 shares during the period. Geode Capital Management LLC lifted its position in Worthington Steel by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 802,320 shares of the company’s stock worth $23,936,000 after acquiring an additional 7,060 shares in the last quarter. American Century Companies Inc. boosted its holdings in Worthington Steel by 51.3% in the 3rd quarter. American Century Companies Inc. now owns 609,810 shares of the company’s stock worth $18,532,000 after acquiring an additional 206,778 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in Worthington Steel by 429.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 513,416 shares of the company’s stock worth $15,603,000 after acquiring an additional 416,509 shares during the period. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Stock Performance

Shares of WS opened at $32.27 on Monday. The business’s 50 day moving average is $40.77 and its two-hundred day moving average is $35.65. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $49.17. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 18.13 and a beta of 1.62. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.04.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Friday, December 19th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $871.90 million for the quarter, compared to analyst estimates of $797.25 million. Worthington Steel had a return on equity of 10.70% and a net margin of 3.83%.The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. Analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, March 13th. Worthington Steel’s dividend payout ratio (DPR) is currently 35.96%.

Insider Buying and Selling at Worthington Steel

In related news, Director Jon J. Bowsher bought 2,500 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was bought at an average price of $40.15 per share, with a total value of $100,375.00. Following the transaction, the director owned 17,893 shares of the company’s stock, valued at approximately $718,403.95. This trade represents a 16.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott J. Kelly bought 7,000 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was bought at an average price of $39.11 per share, for a total transaction of $273,770.00. Following the purchase, the director owned 16,157 shares in the company, valued at approximately $631,900.27. This represents a 76.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WS has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Worthington Steel from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. KeyCorp raised their price target on shares of Worthington Steel from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Zacks Research raised shares of Worthington Steel from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Worthington Steel has an average rating of “Hold” and an average target price of $39.00.

About Worthington Steel

Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.