Worthington Steel, Inc. (NYSE:WS) Position Increased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,787 shares of the company’s stock after buying an additional 1,700 shares during the period. Jacobs Levy Equity Management Inc. owned 0.52% of Worthington Steel worth $8,426,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in Worthington Steel during the fourth quarter valued at about $649,000. Handelsbanken Fonder AB grew its position in shares of Worthington Steel by 23.7% in the fourth quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company’s stock valued at $316,000 after purchasing an additional 1,900 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Worthington Steel by 46.0% in the third quarter. JPMorgan Chase & Co. now owns 85,141 shares of the company’s stock valued at $2,896,000 after purchasing an additional 26,809 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Worthington Steel by 2.3% in the fourth quarter. New York State Teachers Retirement System now owns 65,974 shares of the company’s stock valued at $2,099,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Worthington Steel by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company’s stock valued at $10,529,000 after purchasing an additional 9,584 shares during the last quarter. 45.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, KeyCorp lowered their price target on 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 Stock Performance

Shares of NYSE:WS opened at $28.14 on Wednesday. The company has a market cap of $1.43 billion, a P/E ratio of 9.87 and a beta of 1.98. The stock’s 50-day moving average is $25.38 and its 200-day moving average is $31.66. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $47.19.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, equities analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel’s dividend payout ratio (DPR) is presently 29.91%.

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.