Allspring Global Investments Holdings LLC Lowers Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Allspring Global Investments Holdings LLC lessened its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 27.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 152,712 shares of the company’s stock after selling 58,768 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Worthington Steel were worth $5,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp acquired a new position in Worthington Steel in the 1st quarter valued at $2,010,000. Russell Investments Group Ltd. raised its holdings in Worthington Steel by 51.4% during the first quarter. Russell Investments Group Ltd. now owns 54,603 shares of the company’s stock worth $1,958,000 after purchasing an additional 18,547 shares in the last quarter. Vanguard Group Inc. lifted its position in Worthington Steel by 30.1% in the first quarter. Vanguard Group Inc. now owns 5,246,781 shares of the company’s stock valued at $188,097,000 after purchasing an additional 1,215,248 shares during the period. BNP Paribas Financial Markets acquired a new stake in Worthington Steel in the first quarter valued at about $723,000. Finally, Virtu Financial LLC purchased a new stake in Worthington Steel in the 1st quarter valued at approximately $694,000. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Trading Up 2.9 %

Shares of WS stock opened at $36.54 on Monday. The stock has a 50 day simple moving average of $33.92 and a 200-day simple moving average of $33.50. The company has a market cap of $1.84 billion and a price-to-earnings ratio of 14.73. Worthington Steel, Inc. has a 12-month low of $21.00 and a 12-month high of $41.01.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, September 25th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The firm had revenue of $834.00 million for the quarter, compared to analyst estimates of $748.40 million. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities analysts forecast that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.75%. Worthington Steel’s dividend payout ratio is presently 25.81%.

Worthington Steel 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.