Worthington Steel, Inc. (NYSE:WS) Holdings Lifted by Swiss National Bank

Swiss National Bank boosted its holdings in Worthington Steel, Inc. (NYSE:WS) by 2.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 64,400 shares of the company’s stock after purchasing an additional 1,800 shares during the quarter. Swiss National Bank’s holdings in Worthington Steel were worth $2,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in Worthington Steel during the third quarter valued at about $213,000. MML Investors Services LLC acquired a new stake in shares of Worthington Steel during the 3rd quarter valued at $239,000. Victory Capital Management Inc. boosted its position in Worthington Steel by 36.8% during the third quarter. Victory Capital Management Inc. now owns 8,523 shares of the company’s stock valued at $290,000 after purchasing an additional 2,291 shares during the last quarter. Raymond James Financial Inc. bought a new position in Worthington Steel during the fourth quarter valued at approximately $290,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Worthington Steel by 23.7% during the 4th quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company’s stock valued at $316,000 after purchasing an additional 1,900 shares in the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Stock Performance

NYSE:WS opened at $26.53 on Friday. The firm’s 50-day moving average is $27.94 and its 200-day moving average is $33.86. Worthington Steel, Inc. has a 52-week low of $24.22 and a 52-week high of $47.19. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 9.31 and a beta of 2.62.

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

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel’s payout ratio is 29.91%.

Analysts Set New Price Targets

Separately, KeyCorp reduced their target price on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating for the company in a report on Friday, March 7th.

About Worthington Steel

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.