Teacher Retirement System of Texas Lowers Stock Position in Worthington Steel, Inc. (NYSE:WS)

Teacher Retirement System of Texas decreased its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 10.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 144,009 shares of the company’s stock after selling 17,306 shares during the period. Teacher Retirement System of Texas’ holdings in Worthington Steel were worth $4,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of WS. Victory Capital Management Inc. raised its position in Worthington Steel by 36.8% in the third quarter. Victory Capital Management Inc. now owns 8,523 shares of the company’s stock worth $290,000 after acquiring an additional 2,291 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Worthington Steel by 44.7% in the 3rd quarter. Natixis Advisors LLC now owns 22,590 shares of the company’s stock valued at $768,000 after purchasing an additional 6,976 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Worthington Steel by 7.0% in the third quarter. Thrivent Financial for Lutherans now owns 27,304 shares of the company’s stock valued at $929,000 after purchasing an additional 1,791 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Worthington Steel by 1.3% during the third quarter. PNC Financial Services Group Inc. now owns 28,304 shares of the company’s stock worth $963,000 after buying an additional 350 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Worthington Steel during the third quarter worth about $1,121,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Stock Performance

WS opened at $26.78 on Tuesday. Worthington Steel, Inc. has a one year low of $24.22 and a one year high of $47.19. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 9.40 and a beta of 2.62. The business’s fifty day moving average is $28.18 and its two-hundred day moving average is $34.00.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. During the same period in the previous year, the company posted $0.99 earnings per share. Worthington Steel’s revenue was down 14.7% on a year-over-year basis. On average, analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.39%. Worthington Steel’s dividend payout ratio is presently 29.91%.

Analyst Upgrades and Downgrades

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

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.