Victory Capital Management Inc. Buys 6,897 Shares of Worthington Steel, Inc. (NYSE:WS)

Victory Capital Management Inc. lifted its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 80.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,420 shares of the company’s stock after acquiring an additional 6,897 shares during the period. Victory Capital Management Inc.’s holdings in Worthington Steel were worth $491,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WS. Natixis Advisors LLC boosted its stake in shares of Worthington Steel by 44.7% during the 3rd quarter. Natixis Advisors LLC now owns 22,590 shares of the company’s stock worth $768,000 after acquiring an additional 6,976 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Worthington Steel by 7.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 27,304 shares of the company’s stock valued at $929,000 after purchasing an additional 1,791 shares during the period. PNC Financial Services Group Inc. boosted its stake in Worthington Steel by 1.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 28,304 shares of the company’s stock valued at $963,000 after purchasing an additional 350 shares during the period. Intech Investment Management LLC bought a new stake in Worthington Steel during the 3rd quarter valued at approximately $1,121,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Worthington Steel by 12.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,296 shares of the company’s stock valued at $10,927,000 after purchasing an additional 36,488 shares during the period. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Down 6.0 %

Shares of NYSE:WS opened at $26.21 on Friday. The business has a 50 day moving average price of $28.23 and a 200 day moving average price of $34.02. Worthington Steel, Inc. has a twelve month low of $24.22 and a twelve month high of $47.19. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 9.20 and a beta of 2.62.

Worthington Steel (NYSE:WS) last announced its earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.32). The business had revenue of $687.40 million for the quarter, compared to the consensus estimate of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. Worthington Steel’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. Analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The company also recently declared 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 22.46%.

Analyst Ratings Changes

Separately, KeyCorp decreased their target price on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating for the company 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.