PDS Planning Inc Acquires 729 Shares of Worthington Steel, Inc. (NYSE:WS)

PDS Planning Inc raised its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,133 shares of the company’s stock after purchasing an additional 729 shares during the period. PDS Planning Inc’s holdings in Worthington Steel were worth $307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WS. Vanguard Group Inc. grew its position in shares of Worthington Steel by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company’s stock valued at $142,154,000 after buying an additional 550,181 shares during the last quarter. Lido Advisors LLC bought a new stake in Worthington Steel in the fourth quarter valued at approximately $5,755,000. First Trust Advisors LP acquired a new stake in Worthington Steel during the 4th quarter valued at approximately $3,706,000. Bank of New York Mellon Corp increased its position in Worthington Steel by 44.6% during the 4th quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company’s stock valued at $11,424,000 after purchasing an additional 110,662 shares during the period. Finally, Foundry Partners LLC bought a new position in Worthington Steel during the 4th quarter worth approximately $3,317,000. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Trading Up 1.6%

Shares of Worthington Steel stock opened at $32.15 on Friday. The business has a 50-day moving average price of $26.10 and a two-hundred day moving average price of $27.87. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $47.19. The company has a market cap of $1.63 billion, a P/E ratio of 14.75 and a beta of 1.64.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, June 25th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.83 by $0.22. The business had revenue of $832.90 million during the quarter, compared to analysts’ expectations of $800.45 million. Worthington Steel had a return on equity of 9.54% and a net margin of 3.58%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. Equities research analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, September 12th. Worthington Steel’s dividend payout ratio (DPR) is 29.91%.

Analyst Upgrades and Downgrades

Separately, KeyCorp decreased their price objective on shares of 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 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.