Midwest Trust Co Takes $2.38 Million Position in Worthington Steel, Inc. $WS

Midwest Trust Co purchased a new position in Worthington Steel, Inc. (NYSE:WS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 79,693 shares of the company’s stock, valued at approximately $2,377,000.

Several other institutional investors have also modified their holdings of WS. CSM Advisors LLC acquired a new stake in shares of Worthington Steel during the second quarter worth $5,416,000. Bank of New York Mellon Corp increased its holdings in Worthington Steel by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 342,381 shares of the company’s stock worth $10,213,000 after purchasing an additional 4,962 shares in the last quarter. IFG Advisory LLC raised its stake in shares of Worthington Steel by 26.5% in the 2nd quarter. IFG Advisory LLC now owns 15,178 shares of the company’s stock valued at $453,000 after purchasing an additional 3,178 shares during the period. World Investment Advisors acquired a new stake in shares of Worthington Steel in the 2nd quarter valued at about $298,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Worthington Steel by 24.5% in the second quarter. Teacher Retirement System of Texas now owns 96,907 shares of the company’s stock valued at $2,891,000 after purchasing an additional 19,087 shares in the last quarter. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Trading Up 0.8%

Worthington Steel stock opened at $31.76 on Tuesday. The stock has a 50-day simple moving average of $31.63 and a 200 day simple moving average of $29.90. The stock has a market capitalization of $1.61 billion, a P/E ratio of 14.57 and a beta of 1.77. 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 52 week low of $21.30 and a 52 week 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 for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $872.90 million for the quarter, compared to analyst estimates of $785.30 million. Worthington Steel had a net margin of 3.80% and a return on equity of 10.11%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. Analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 12th will be paid a $0.16 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.64 annualized dividend and a yield of 2.0%. Worthington Steel’s payout ratio is 29.36%.

Analyst Upgrades and Downgrades

WS has been the subject of a number of recent research reports. Wall Street Zen raised Worthington Steel from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, October 8th. Finally, KeyCorp increased their target price on shares of Worthington Steel from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

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.