Worthington Steel, Inc. $WS Shares Bought by CSM Advisors LLC

CSM Advisors LLC grew its position in Worthington Steel, Inc. (NYSE:WS) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,749 shares of the company’s stock after acquiring an additional 21,132 shares during the quarter. CSM Advisors LLC’s holdings in Worthington Steel were worth $6,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Worthington Steel by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,462,097 shares of the company’s stock worth $74,823,000 after purchasing an additional 32,717 shares during the last quarter. Alliancebernstein L.P. increased its stake in Worthington Steel by 695.6% during the third quarter. Alliancebernstein L.P. now owns 969,887 shares of the company’s stock valued at $29,475,000 after purchasing an additional 847,981 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Worthington Steel by 0.9% during the second quarter. Geode Capital Management LLC now owns 802,320 shares of the company’s stock worth $23,936,000 after purchasing an additional 7,060 shares during the period. American Century Companies Inc. raised its holdings in shares of Worthington Steel by 51.3% during the third quarter. American Century Companies Inc. now owns 609,810 shares of the company’s stock worth $18,532,000 after purchasing an additional 206,778 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of Worthington Steel by 429.8% in 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 during the last quarter. 45.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WS shares. Zacks Research raised shares of Worthington Steel from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. KeyCorp raised their target price on shares of Worthington Steel from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised Worthington Steel from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Insider Buying and Selling at Worthington Steel

In other Worthington Steel news, Director Scott J. Kelly bought 7,000 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were purchased at an average price of $39.11 per share, with a total value of $273,770.00. Following the purchase, the director directly owned 16,157 shares of the company’s stock, valued at approximately $631,900.27. The trade was a 76.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jon J. Bowsher purchased 2,500 shares of Worthington Steel stock in a transaction on Friday, January 30th. The shares were acquired at an average price of $40.15 per share, with a total value of $100,375.00. Following the transaction, the director directly owned 17,893 shares in the company, valued at $718,403.95. This trade represents a 16.24% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is owned by insiders.

Worthington Steel Price Performance

NYSE WS opened at $32.27 on Monday. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $49.17. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 18.13 and a beta of 1.62. The company has a 50-day moving average price of $40.77 and a two-hundred day moving average price of $35.65.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Friday, December 19th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $871.90 million during the quarter, compared to analyst estimates of $797.25 million. Worthington Steel had a net margin of 3.83% and a return on equity of 10.70%. Worthington Steel’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. Analysts forecast 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. Investors of record on Friday, March 13th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, March 13th. Worthington Steel’s dividend payout ratio (DPR) is currently 35.96%.

About Worthington Steel

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.