Wellington Management Group LLP Cuts Stock Position in Worthington Steel, Inc. (NYSE:WS)

Wellington Management Group LLP cut its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,486 shares of the company’s stock after selling 988 shares during the quarter. Wellington Management Group LLP owned approximately 0.14% of Worthington Steel worth $2,363,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in Worthington Steel by 7.9% during the third quarter. Principal Financial Group Inc. now owns 163,757 shares of the company’s stock valued at $5,569,000 after purchasing an additional 11,976 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of Worthington Steel by 54.5% in the 2nd quarter. WINTON GROUP Ltd now owns 141,024 shares of the company’s stock worth $4,705,000 after purchasing an additional 49,725 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Worthington Steel by 546.5% during the 3rd quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock valued at $3,179,000 after purchasing an additional 79,021 shares during the last quarter. FMR LLC raised its holdings in shares of Worthington Steel by 14.4% during the 3rd quarter. FMR LLC now owns 88,973 shares of the company’s stock valued at $3,026,000 after buying an additional 11,226 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in Worthington Steel by 56.4% in the 3rd quarter. Walleye Capital LLC now owns 54,088 shares of the company’s stock worth $1,840,000 after buying an additional 19,499 shares during the last quarter. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Price Performance

Shares of NYSE WS opened at $39.38 on Wednesday. The stock has a market capitalization of $2.00 billion and a P/E ratio of 15.88. Worthington Steel, Inc. has a one year low of $23.82 and a one year high of $47.19. The firm’s 50 day simple moving average is $40.88 and its two-hundred day simple moving average is $36.17.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $834.00 million for the quarter, compared to analyst estimates of $748.40 million. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. As a group, equities analysts expect that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.63%. Worthington Steel’s dividend payout ratio is currently 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.