Worthington Steel, Inc. (NYSE:WS) Shares Bought by Cardinal Capital Management

Cardinal Capital Management raised its stake in Worthington Steel, Inc. (NYSE:WS) by 8.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 16,069 shares of the company’s stock after buying an additional 1,217 shares during the quarter. Cardinal Capital Management’s holdings in Worthington Steel were worth $407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WS. Proficio Capital Partners LLC acquired a new stake in Worthington Steel in the 4th quarter valued at about $649,000. Handelsbanken Fonder AB increased its stake in shares of Worthington Steel by 23.7% during the 4th quarter. Handelsbanken Fonder AB now owns 9,916 shares of the company’s stock worth $316,000 after purchasing an additional 1,900 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Worthington Steel by 2.3% during the 4th quarter. New York State Teachers Retirement System now owns 65,974 shares of the company’s stock worth $2,099,000 after purchasing an additional 1,487 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Worthington Steel by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company’s stock valued at $10,529,000 after buying an additional 9,584 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Worthington Steel by 51.3% during the 4th quarter. JPMorgan Chase & Co. now owns 128,830 shares of the company’s stock valued at $4,099,000 after buying an additional 43,689 shares during the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Worthington Steel Trading Up 2.8%

NYSE:WS opened at $25.68 on Wednesday. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 12.00 and a beta of 1.64. The company’s 50-day moving average is $25.64 and its two-hundred day moving average is $28.73.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.32). The firm had revenue of $687.40 million during the quarter, compared to analysts’ expectations of $732.00 million. Worthington Steel had a return on equity of 9.58% and a net margin of 3.41%. The firm’s revenue was down 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities research analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel’s dividend payout ratio (DPR) is 29.91%.

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.