Frazier Financial Advisors LLC Raises Holdings in Worthington Steel, Inc. $WS

Frazier Financial Advisors LLC grew its holdings in Worthington Steel, Inc. (NYSE:WS) by 36.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,132 shares of the company’s stock after acquiring an additional 1,622 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Worthington Steel were worth $183,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WS. Ameritas Advisory Services LLC purchased a new position in shares of Worthington Steel in the 2nd quarter valued at about $25,000. GAMMA Investing LLC boosted its position in shares of Worthington Steel by 57.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,219 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares during the period. CWM LLC boosted its position in shares of Worthington Steel by 141.5% in the 1st quarter. CWM LLC now owns 2,186 shares of the company’s stock valued at $55,000 after purchasing an additional 1,281 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Worthington Steel in the 1st quarter valued at about $118,000. Finally, Beacon Financial Advisory LLC acquired a new stake in shares of Worthington Steel in the 2nd quarter valued at about $203,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Up 3.2%

WS opened at $30.13 on Tuesday. The business’s fifty day moving average is $31.92 and its two-hundred day moving average is $28.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.97 and a current ratio of 1.66. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 13.82 and a beta of 1.76. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $47.19.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Wednesday, September 24th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. Worthington Steel had a return on equity of 10.11% and a net margin of 3.80%.The business had revenue of $872.90 million for the quarter, compared to the consensus estimate of $785.30 million. During the same period in the prior year, the business earned $0.56 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, December 12th. Worthington Steel’s dividend payout ratio is currently 29.36%.

Analyst Upgrades and Downgrades

WS has been the subject of a number of research analyst reports. KeyCorp upped their target price on Worthington Steel from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

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.