Frazier Financial Advisors LLC Boosts Stock Position in Worthington Steel, Inc. $WS

Frazier Financial Advisors LLC grew its holdings in Worthington Steel, Inc. (NYSE:WS) by 36.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,132 shares of the company’s stock after buying an additional 1,622 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Worthington Steel were worth $183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Worthington Steel by 13.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 154,970 shares of the company’s stock worth $4,623,000 after purchasing an additional 18,545 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in Worthington Steel during the second quarter worth $247,000. Beacon Financial Advisory LLC acquired a new position in Worthington Steel during the second quarter worth $203,000. Ameritas Advisory Services LLC acquired a new position in Worthington Steel during the second quarter worth $25,000. Finally, State of Alaska Department of Revenue boosted its stake in Worthington Steel by 7.5% during the second quarter. State of Alaska Department of Revenue now owns 20,852 shares of the company’s stock worth $621,000 after buying an additional 1,447 shares during the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Steel Stock Performance

Shares of Worthington Steel stock opened at $30.13 on Tuesday. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $47.19. The business’s fifty day simple moving average is $31.92 and its 200-day simple moving average is $28.88. The firm has a market cap of $1.53 billion, a PE ratio of 13.82 and a beta of 1.76. The company has a quick ratio of 0.97, a current ratio of 1.66 and a debt-to-equity ratio of 0.04.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Wednesday, September 24th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. Worthington Steel had a return on equity of 10.11% and a net margin of 3.80%.The business had revenue of $872.90 million for the quarter, compared to analyst estimates of $785.30 million. During the same quarter in the prior year, the company posted $0.56 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.64 annualized dividend and a yield of 2.1%. Worthington Steel’s dividend payout ratio is presently 29.36%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WS. KeyCorp boosted their price objective on Worthington Steel from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Worthington Steel from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Worthington Steel Company 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.