LSV Asset Management Takes Position in Worthington Steel, Inc. $WS

LSV Asset Management purchased a new position in shares of Worthington Steel, Inc. (NYSE:WS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 55,100 shares of the company’s stock, valued at approximately $1,674,000. LSV Asset Management owned about 0.11% of Worthington Steel as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its position in shares of Worthington Steel by 429.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 513,416 shares of the company’s stock worth $15,603,000 after buying an additional 416,509 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in Worthington Steel by 154.3% during the second quarter. Bridgeway Capital Management LLC now owns 340,752 shares of the company’s stock worth $10,165,000 after acquiring an additional 206,752 shares during the period. CSM Advisors LLC purchased a new position in Worthington Steel in the second quarter worth $5,416,000. American Century Companies Inc. grew its stake in Worthington Steel by 49.7% in the 2nd quarter. American Century Companies Inc. now owns 403,032 shares of the company’s stock valued at $12,022,000 after purchasing an additional 133,872 shares during the period. Finally, Midwest Trust Co purchased a new stake in shares of Worthington Steel during the 2nd quarter valued at $2,377,000. 45.41% of the stock is owned by institutional investors.

Worthington Steel Trading Up 0.9%

Shares of Worthington Steel stock opened at $46.98 on Tuesday. The stock has a market capitalization of $2.39 billion, a P/E ratio of 26.39 and a beta of 1.67. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $49.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.80. The stock’s 50-day simple moving average is $39.15 and its 200 day simple moving average is $34.50.

Worthington Steel (NYSE:WS) last posted its earnings results on Friday, December 19th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $871.90 million during the quarter, compared to analysts’ expectations of $797.25 million. Worthington Steel had a return on equity of 10.70% and a net margin of 3.83%.Worthington Steel’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. As a group, research analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.4%. Worthington Steel’s payout ratio is presently 35.96%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WS shares. Zacks Research downgraded shares of Worthington Steel from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd. KeyCorp boosted their target price on shares of Worthington Steel from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.00.

Insider Buying and Selling at Worthington Steel

In related news, Director Jon J. Bowsher purchased 2,500 shares of Worthington Steel stock in a transaction dated Friday, January 30th. The stock was bought at an average cost of $40.15 per share, for a total transaction of $100,375.00. Following the completion of the transaction, the director owned 17,893 shares in the company, valued at $718,403.95. This trade represents a 16.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott J. Kelly acquired 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were bought at an average cost of $39.11 per share, for a total transaction of $273,770.00. Following the acquisition, the director directly owned 16,157 shares in the company, valued at $631,900.27. This represents a 76.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.60% of the company’s stock.

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.