Foundry Partners LLC Purchases Shares of 104,228 Worthington Steel, Inc. (NYSE:WS)

Foundry Partners LLC acquired a new position in Worthington Steel, Inc. (NYSE:WS) in the 4th quarter, HoldingsChannel reports. The firm acquired 104,228 shares of the company’s stock, valued at approximately $3,317,000.

A number of other large investors also recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in Worthington Steel in the 4th quarter valued at $41,741,000. Vanguard Group Inc. raised its holdings in shares of Worthington Steel by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company’s stock valued at $142,154,000 after purchasing an additional 550,181 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Worthington Steel by 44.6% during the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company’s stock valued at $11,424,000 after purchasing an additional 110,662 shares in the last quarter. Fisher Asset Management LLC boosted its holdings 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 purchasing an additional 86,753 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Worthington Steel by 546.5% in the 3rd quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock worth $3,179,000 after purchasing an additional 79,021 shares in the last quarter. Institutional investors own 45.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Worthington Steel Price Performance

Shares of NYSE:WS opened at $22.90 on Friday. The company has a market capitalization of $1.16 billion, a PE ratio of 8.04 and a beta of 2.03. Worthington Steel, Inc. has a 1 year low of $21.40 and a 1 year high of $47.19. The business has a fifty day moving average price of $27.27 and a two-hundred day moving average price of $33.56.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) 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 analysts’ expectations of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. Sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, June 13th. Worthington Steel’s dividend payout ratio (DPR) is 29.91%.

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.