G2 Capital Management LLC OH Sells 779 Shares of Worthington Steel, Inc. $WS

G2 Capital Management LLC OH lessened its stake in Worthington Steel, Inc. (NYSE:WS) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 quarter.

A number of other large investors have also added to or reduced their stakes in WS. Nuveen LLC bought a new stake in Worthington Steel in the 1st quarter worth approximately $8,901,000. American Century Companies Inc. grew its position in Worthington Steel by 966.1% in the 1st quarter. American Century Companies Inc. now owns 269,160 shares of the company’s stock worth $6,818,000 after purchasing an additional 243,912 shares during the period. Empowered Funds LLC bought a new stake in Worthington Steel in the 1st quarter worth approximately $4,485,000. Bridgeway Capital Management LLC bought a new stake in Worthington Steel in the 1st quarter worth approximately $3,394,000. Finally, Charles Schwab Investment Management Inc. grew its position in Worthington Steel by 37.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 455,942 shares of the company’s stock worth $11,549,000 after purchasing an additional 125,062 shares during the period. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Down 4.7%

WS opened at $29.21 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.97 and a current ratio of 1.66. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The firm’s fifty day moving average is $31.91 and its 200 day moving average is $28.84. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 13.40 and a beta of 1.76.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, September 24th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Worthington Steel had a net margin of 3.80% and a return on equity of 10.11%. The company had revenue of $872.90 million for the quarter, compared to analysts’ expectations of $785.30 million. During the same quarter in the previous year, the company earned $0.56 EPS. Worthington Steel’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. KeyCorp lifted their target price on shares of Worthington Steel from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Wall Street Zen cut shares of Worthington Steel from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.00.

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.