Sei Investments Co. Has $2.17 Million Stock Holdings in Worthington Steel, Inc. $WS

Sei Investments Co. raised its position in shares of Worthington Steel, Inc. (NYSE:WS) by 127.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,474 shares of the company’s stock after purchasing an additional 40,097 shares during the period. Sei Investments Co. owned approximately 0.14% of Worthington Steel worth $2,169,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Worthington Steel by 14.8% in the 1st quarter. Royal Bank of Canada now owns 15,771 shares of the company’s stock valued at $399,000 after purchasing an additional 2,038 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Worthington Steel by 89.4% during the 1st quarter. AQR Capital Management LLC now owns 50,634 shares of the company’s stock worth $1,269,000 after buying an additional 23,899 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Worthington Steel by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock worth $490,000 after buying an additional 841 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Worthington Steel in the second quarter valued at about $670,000. Finally, First Trust Advisors LP boosted its stake in Worthington Steel by 3.9% in the second quarter. First Trust Advisors LP now owns 127,877 shares of the company’s stock valued at $3,815,000 after buying an additional 4,756 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Price Performance

WS stock opened at $38.17 on Friday. The company has a market capitalization of $1.94 billion, a P/E ratio of 27.46 and a beta of 2.30. The company has a fifty day moving average price of $37.38 and a 200-day moving average price of $38.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.92 and a current ratio of 1.46. Worthington Steel, Inc. has a 52-week low of $27.22 and a 52-week high of $49.17.

Worthington Steel (NYSE:WS) last announced its earnings results on Thursday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Worthington Steel had a return on equity of 8.87% and a net margin of 0.50%.The firm had revenue of $929.20 million for the quarter, compared to the consensus estimate of $992.00 million. During the same period in the previous year, the business earned $1.05 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that Worthington Steel, Inc. will post 3.39 EPS for the current year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Worthington Steel’s payout ratio is currently 46.04%.

Analyst Ratings Changes

A number of research analysts have issued reports on WS shares. Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings cut shares of Worthington Steel from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. KeyCorp restated an “overweight” rating on shares of Worthington Steel in a research note on Monday, June 29th. Finally, Zacks Research raised shares of Worthington Steel from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $46.00.

Insider Activity at Worthington Steel

In related news, insider Clifford Larivey sold 11,105 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $40.09, for a total value of $445,199.45. Following the sale, the insider directly owned 64,308 shares in the company, valued at $2,578,107.72. This represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Klingler sold 20,036 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $43.82, for a total transaction of $877,977.52. Following the transaction, the chief operating officer owned 93,212 shares of the company’s stock, valued at approximately $4,084,549.84. The trade was a 17.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,708 shares of company stock worth $1,431,830 over the last ninety days. Insiders own 2.60% of the company’s stock.

Worthington Steel Profile

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.