Charles Schwab Investment Management Inc. Boosts Holdings in Worthington Steel, Inc. (NYSE:WS)

Charles Schwab Investment Management Inc. lifted its stake in Worthington Steel, Inc. (NYSE:WS) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 330,880 shares of the company’s stock after purchasing an additional 9,584 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Worthington Steel were worth $10,529,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fisher Asset Management LLC lifted its position in shares of Worthington Steel by 185.4% in the 4th quarter. Fisher Asset Management LLC now owns 133,543 shares of the company’s stock worth $4,249,000 after purchasing an additional 86,753 shares during the period. Proficio Capital Partners LLC bought a new stake in Worthington Steel during the fourth quarter worth about $649,000. Illinois Municipal Retirement Fund boosted its stake in Worthington Steel by 5.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 18,939 shares of the company’s stock worth $603,000 after acquiring an additional 904 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Worthington Steel by 44.6% during the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company’s stock worth $11,424,000 after acquiring an additional 110,662 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Worthington Steel by 23.7% during the fourth quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company’s stock worth $316,000 after acquiring an additional 1,900 shares in the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Price Performance

NYSE:WS opened at $26.21 on Friday. Worthington Steel, Inc. has a one year low of $24.22 and a one year high of $47.19. The company’s 50-day simple moving average is $28.23 and its 200 day simple moving average is $34.02. The firm has a market capitalization of $1.33 billion, a P/E ratio of 9.20 and a beta of 2.62.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business had revenue of $687.40 million for the quarter, compared to the consensus estimate of $732.00 million. During the same period in the previous year, the firm earned $0.99 EPS. The company’s revenue was down 14.7% on a year-over-year basis. On average, equities research analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 annualized dividend and a yield of 2.44%. Worthington Steel’s dividend payout ratio (DPR) is presently 22.46%.

Analysts Set New Price Targets

Separately, KeyCorp dropped their price objective on shares of Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th.

Worthington Steel Company 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.