Intech Investment Management LLC Takes $1.12 Million Position in Worthington Steel, Inc. (NYSE:WS)

Intech Investment Management LLC purchased a new position in shares of Worthington Steel, Inc. (NYSE:WS) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 32,955 shares of the company’s stock, valued at approximately $1,121,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its stake in shares of Worthington Steel by 1.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 21,102 shares of the company’s stock worth $704,000 after acquiring an additional 304 shares during the period. New York State Teachers Retirement System lifted its position in Worthington Steel by 0.5% in the third quarter. New York State Teachers Retirement System now owns 64,487 shares of the company’s stock valued at $2,193,000 after purchasing an additional 305 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Worthington Steel by 1.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 28,304 shares of the company’s stock valued at $963,000 after purchasing an additional 350 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Worthington Steel by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock worth $517,000 after purchasing an additional 400 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Worthington Steel by 153.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock worth $43,000 after buying an additional 759 shares in the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Steel Price Performance

Worthington Steel stock opened at $44.69 on Thursday. The stock’s 50 day moving average price is $38.06 and its 200 day moving average price is $35.08. Worthington Steel, Inc. has a 1-year low of $21.00 and a 1-year high of $47.19. The company has a market cap of $2.27 billion and a PE ratio of 18.02.

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

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.43%. Worthington Steel’s payout ratio is 25.81%.

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.