G2 Capital Management LLC OH Lowers Position in Worthington Steel, Inc. $WS

G2 Capital Management LLC OH cut its stake in Worthington Steel, Inc. (NYSE:WS) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,429 shares of the company’s stock after selling 779 shares during the period. G2 Capital Management LLC OH’s holdings in Worthington Steel were worth $311,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Johnson Investment Counsel Inc. purchased a new stake in Worthington Steel in the second quarter worth about $247,000. Beacon Financial Advisory LLC bought a new position in shares of Worthington Steel during the second quarter valued at approximately $203,000. Ameritas Advisory Services LLC bought a new position in shares of Worthington Steel during the second quarter valued at approximately $25,000. State of Alaska Department of Revenue increased its stake in shares of Worthington Steel by 7.5% during the second quarter. State of Alaska Department of Revenue now owns 20,852 shares of the company’s stock valued at $621,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Worthington Steel by 101.2% during the second quarter. Public Employees Retirement System of Ohio now owns 27,737 shares of the company’s stock valued at $827,000 after purchasing an additional 13,951 shares in the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on WS. Wall Street Zen downgraded shares of Worthington Steel from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. KeyCorp raised their target price on shares of Worthington Steel from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Worthington Steel currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Worthington Steel Price Performance

Shares of WS opened at $29.21 on Friday. The company has a market capitalization of $1.49 billion, a P/E ratio of 13.40 and a beta of 1.76. The company has a quick ratio of 0.97, a current ratio of 1.66 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $31.91 and a 200 day moving average of $28.84. Worthington Steel, Inc. has a twelve month low of $21.30 and a twelve month high of $47.19.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Wednesday, September 24th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $872.90 million during the quarter, compared to the consensus estimate of $785.30 million. Worthington Steel had a net margin of 3.80% and a return on equity of 10.11%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. As a group, equities research analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.64 annualized dividend and a dividend yield of 2.2%. Worthington Steel’s dividend payout ratio (DPR) is 29.36%.

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.