Worthington Steel, Inc. (NYSE:WS) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,200,801 shares of the company’s stock after selling 188,118 shares during the period. Dimensional Fund Advisors LP’s holdings in Worthington Steel were worth $70,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Worthington Steel by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company’s stock worth $142,154,000 after buying an additional 550,181 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Worthington Steel during the fourth quarter worth approximately $41,741,000. Bank of New York Mellon Corp lifted its position in Worthington Steel by 44.6% in the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company’s stock worth $11,424,000 after purchasing an additional 110,662 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Worthington Steel by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company’s stock worth $10,529,000 after purchasing an additional 9,584 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Worthington Steel by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 169,767 shares of the company’s stock worth $5,402,000 after purchasing an additional 6,010 shares during the period. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Price Performance

WS opened at $25.72 on Thursday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.02 and a beta of 2.03. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The business has a 50 day moving average price of $25.46 and a two-hundred day moving average price of $32.21.

Worthington Steel (NYSE:WS) last released its earnings results 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). The firm had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. Equities analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business 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 dividend yield of 2.49%. Worthington Steel’s dividend payout ratio is currently 29.91%.

Analysts Set New Price Targets

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