Lido Advisors LLC Sells 1,969 Shares of Worthington Steel, Inc. $WS

Lido Advisors LLC decreased its position in shares of Worthington Steel, Inc. (NYSE:WS) by 1.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 171,884 shares of the company’s stock after selling 1,969 shares during the quarter. Lido Advisors LLC owned approximately 0.34% of Worthington Steel worth $5,127,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WS. Vanguard Group Inc. raised its holdings in Worthington Steel by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,529,470 shares of the company’s stock valued at $114,731,000 after acquiring an additional 62,042 shares during the period. Geode Capital Management LLC raised its stake in Worthington Steel by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 802,320 shares of the company’s stock valued at $23,936,000 after purchasing an additional 7,060 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Worthington Steel by 37.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 455,942 shares of the company’s stock valued at $11,549,000 after purchasing an additional 125,062 shares during the period. American Century Companies Inc. lifted its holdings in Worthington Steel by 49.7% in the 2nd quarter. American Century Companies Inc. now owns 403,032 shares of the company’s stock worth $12,022,000 after purchasing an additional 133,872 shares in the last quarter. Finally, Nuveen LLC bought a new position in Worthington Steel in the 1st quarter worth approximately $8,901,000. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Trading Up 1.2%

WS stock opened at $34.16 on Tuesday. The firm has a fifty day moving average price of $31.45 and a 200 day moving average price of $30.53. Worthington Steel, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $46.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.97 and a current ratio of 1.66. The firm has a market cap of $1.74 billion, a PE ratio of 15.67 and a beta of 1.72.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Monday, September 29th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Worthington Steel had a net margin of 3.80% and a return on equity of 10.11%. The company had revenue of $872.90 million for the quarter, compared to the consensus estimate of $785.30 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Worthington Steel’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.9%. Worthington Steel’s dividend payout ratio (DPR) is presently 29.36%.

Wall Street Analyst Weigh In

WS has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, October 8th. KeyCorp raised their target price on shares of Worthington Steel from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Finally, Wall Street Zen upgraded shares of Worthington Steel from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.