CSM Advisors LLC Makes New $5.42 Million Investment in Worthington Steel, Inc. $WS

CSM Advisors LLC acquired a new stake in Worthington Steel, Inc. (NYSE:WS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 181,617 shares of the company’s stock, valued at approximately $5,416,000. CSM Advisors LLC owned about 0.36% of Worthington Steel at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WS. Vanguard Group Inc. raised its holdings in shares of Worthington Steel by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,529,470 shares of the company’s stock worth $114,731,000 after purchasing an additional 62,042 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Worthington Steel by 37.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 455,942 shares of the company’s stock valued at $11,549,000 after buying an additional 125,062 shares during the last quarter. Nuveen LLC acquired a new position in shares of Worthington Steel in the 1st quarter valued at about $8,901,000. Bank of New York Mellon Corp lifted its holdings in shares of Worthington Steel by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 342,381 shares of the company’s stock valued at $10,213,000 after buying an additional 4,962 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Worthington Steel by 966.1% in the first quarter. American Century Companies Inc. now owns 269,160 shares of the company’s stock worth $6,818,000 after buying an additional 243,912 shares during the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WS. Wall Street Zen upgraded Worthington Steel from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. KeyCorp lifted their target price on shares of Worthington Steel from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.00.

Worthington Steel Stock Performance

Shares of WS stock opened at $31.51 on Monday. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.04. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19. The business’s 50 day moving average is $31.66 and its two-hundred day moving average is $29.86. The company has a market capitalization of $1.60 billion, a P/E ratio of 14.46 and a beta of 1.77.

Worthington Steel (NYSE:WS) last announced its earnings results on Wednesday, September 24th. The company reported $0.77 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $785.30 million. During the same period in the prior year, the company posted $0.56 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect 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, December 26th. Shareholders of record on Friday, December 12th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 12th. Worthington Steel’s dividend payout ratio (DPR) is presently 29.36%.

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.