LSV Asset Management boosted its stake in shares of Worthington Steel, Inc. (NYSE:WS – Free Report) by 563.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 365,672 shares of the company’s stock after buying an additional 310,572 shares during the quarter. LSV Asset Management’s holdings in Worthington Steel were worth $12,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of WS. Torren Management LLC acquired a new position in shares of Worthington Steel in the 4th quarter valued at $48,000. MAI Capital Management raised its stake in shares of Worthington Steel by 39.8% in the 3rd quarter. MAI Capital Management now owns 1,404 shares of the company’s stock valued at $43,000 after buying an additional 400 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Worthington Steel by 149.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,354 shares of the company’s stock valued at $70,000 after buying an additional 1,412 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Worthington Steel by 50.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,492 shares of the company’s stock valued at $104,000 after buying an additional 1,178 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Worthington Steel in the 4th quarter valued at $221,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.
Worthington Steel Stock Up 0.1%
Shares of NYSE:WS opened at $40.14 on Tuesday. Worthington Steel, Inc. has a 12 month low of $24.23 and a 12 month high of $49.17. The company’s 50-day moving average price is $35.24 and its two-hundred day moving average price is $36.88. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.04 billion, a P/E ratio of 23.61 and a beta of 2.23.
Worthington Steel Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. Worthington Steel’s dividend payout ratio is currently 37.65%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on WS shares. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a research note on Monday, April 20th. Wall Street Zen cut shares of Worthington Steel from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Zacks Research cut shares of Worthington Steel from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, KeyCorp started coverage on shares of Worthington Steel in a research report on Wednesday, March 25th. They set an “overweight” rating and a $46.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Worthington Steel has an average rating of “Hold” and a consensus target price of $46.00.
View Our Latest Stock Analysis on Worthington Steel
Worthington Steel Company Profile
Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.
The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.
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