Teacher Retirement System of Texas Acquires 416,509 Shares of Worthington Steel, Inc. $WS

Teacher Retirement System of Texas raised its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 429.8% in the third quarter, Holdings Channel reports. The institutional investor owned 513,416 shares of the company’s stock after acquiring an additional 416,509 shares during the period. Teacher Retirement System of Texas’ holdings in Worthington Steel were worth $15,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Worthington Steel by 57.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,219 shares of the company’s stock valued at $36,000 after acquiring an additional 443 shares during the period. CWM LLC grew its holdings in Worthington Steel by 37.2% during the third quarter. CWM LLC now owns 1,917 shares of the company’s stock valued at $58,000 after purchasing an additional 520 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Worthington Steel by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,989 shares of the company’s stock worth $268,000 after buying an additional 608 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Worthington Steel by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock worth $490,000 after buying an additional 841 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Worthington Steel in the second quarter worth about $25,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Trading Up 0.6%

WS stock opened at $40.42 on Friday. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $44.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.09. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 22.71 and a beta of 1.69. The business has a 50 day simple moving average of $35.69 and a two-hundred day simple moving average of $33.08.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Friday, December 19th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Worthington Steel had a net margin of 3.83% and a return on equity of 10.70%. The company had revenue of $871.90 million for the quarter, compared to the consensus estimate of $797.25 million. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Research analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, March 13th. Worthington Steel’s payout ratio is currently 35.96%.

Analysts Set New Price Targets

WS has been the subject of a number of recent research reports. Wall Street Zen upgraded Worthington Steel from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday. KeyCorp increased their price objective on shares of Worthington Steel from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Zacks Research cut shares of Worthington Steel from a “hold” rating to a “strong sell” rating in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Worthington Steel presently has an average rating of “Hold” and a consensus target price of $39.00.

Worthington Steel Company Profile

Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.