Cornercap Investment Counsel Inc. Trims Holdings in Worthington Steel, Inc. (NYSE:WS)

Cornercap Investment Counsel Inc. lowered its position in Worthington Steel, Inc. (NYSE:WS) by 49.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,672 shares of the company’s stock after selling 7,548 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Worthington Steel were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of WS. CWM LLC raised its position in Worthington Steel by 845.4% in the second quarter. CWM LLC now owns 1,021 shares of the company’s stock valued at $34,000 after purchasing an additional 913 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Worthington Steel in the 1st quarter valued at $37,000. GAMMA Investing LLC raised its stake in Worthington Steel by 153.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after acquiring an additional 759 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Worthington Steel in the 3rd quarter worth $71,000. Finally, Eastern Bank purchased a new stake in shares of Worthington Steel in the third quarter valued at approximately $99,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Price Performance

Shares of WS opened at $43.30 on Tuesday. Worthington Steel, Inc. has a 1-year low of $21.00 and a 1-year high of $47.19. The firm has a 50 day simple moving average of $36.62 and a 200-day simple moving average of $34.58. The stock has a market cap of $2.20 billion and a price-to-earnings ratio of 17.46.

Worthington Steel (NYSE:WS) last posted its earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $834.00 million during the quarter, compared to analyst estimates of $748.40 million. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, equities analysts expect that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Steel’s dividend payout ratio (DPR) is presently 25.81%.

Worthington Steel 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.