Two Sigma Advisers LP Trims Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Two Sigma Advisers LP reduced its stake in Worthington Steel, Inc. (NYSE:WS) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,000 shares of the company’s stock after selling 900 shares during the period. Two Sigma Advisers LP’s holdings in Worthington Steel were worth $573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WS. Anchor Investment Management LLC acquired a new position in Worthington Steel in the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC grew its position in Worthington Steel by 82.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company’s stock valued at $132,000 after acquiring an additional 1,883 shares in the last quarter. Voleon Capital Management LP acquired a new position in Worthington Steel in the 4th quarter valued at about $213,000. KLP Kapitalforvaltning AS acquired a new position in Worthington Steel in the 4th quarter valued at about $220,000. Finally, Bank of Montreal Can grew its position in Worthington Steel by 6.0% in the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company’s stock valued at $282,000 after acquiring an additional 497 shares in the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Worthington Steel Stock Performance

Shares of Worthington Steel stock opened at $26.24 on Wednesday. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $47.19. The company has a market cap of $1.33 billion, a PE ratio of 9.21 and a beta of 1.65. The business has a 50-day simple moving average of $25.36 and a 200-day simple moving average of $30.03.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The company had revenue of $687.40 million for the quarter, compared to analyst estimates of $732.00 million. During the same period in the prior year, the firm posted $0.99 earnings per share. The business’s quarterly revenue was down 14.7% compared to the same quarter last year. On average, sell-side analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel’s dividend payout ratio is presently 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.