Worthington Steel, Inc. (NYSE:WS) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,009 shares of the company’s stock after selling 17,306 shares during the quarter. Teacher Retirement System of Texas owned about 0.28% of Worthington Steel worth $4,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WS. Pacer Advisors Inc. acquired a new stake in shares of Worthington Steel during the fourth quarter worth about $41,741,000. Bank of New York Mellon Corp grew its stake 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 worth $11,424,000 after buying an additional 110,662 shares during the last quarter. Fisher Asset Management LLC increased its position in Worthington Steel by 185.4% during the fourth quarter. Fisher Asset Management LLC now owns 133,543 shares of the company’s stock worth $4,249,000 after buying an additional 86,753 shares during the period. Janus Henderson Group PLC lifted its stake in Worthington Steel by 546.5% in the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock valued at $3,179,000 after buying an additional 79,021 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Worthington Steel by 35.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company’s stock valued at $8,948,000 after acquiring an additional 68,792 shares during the period. 45.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, KeyCorp cut their target price on shares of Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, March 7th.

Worthington Steel Stock Performance

Shares of WS opened at $26.78 on Tuesday. Worthington Steel, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $47.19. The firm has a 50-day simple moving average of $28.18 and a 200-day simple moving average of $34.00. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.40 and a beta of 2.62.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data 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 company had revenue of $687.40 million for 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 firm’s revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. Equities research analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.16 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.39%. Worthington Steel’s dividend payout ratio (DPR) is 29.91%.

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.