Frazier Financial Advisors LLC Lowers Stake in Worthington Steel, Inc. (NYSE:WS)

Frazier Financial Advisors LLC lessened its stake in Worthington Steel, Inc. (NYSE:WS) by 28.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,615 shares of the company’s stock after selling 1,849 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Worthington Steel were worth $157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Worthington Steel by 30.1% in the first quarter. Vanguard Group Inc. now owns 5,246,781 shares of the company’s stock worth $188,097,000 after buying an additional 1,215,248 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Worthington Steel by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,393,483 shares of the company’s stock worth $79,845,000 after buying an additional 17,783 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Worthington Steel by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 267,935 shares of the company’s stock worth $8,938,000 after buying an additional 6,433 shares in the last quarter. Private Wealth Strategies L.L.C. purchased a new stake in Worthington Steel during the second quarter valued at $6,955,000. Finally, Millennium Management LLC raised its stake in Worthington Steel by 135.3% during the second quarter. Millennium Management LLC now owns 189,968 shares of the company’s stock valued at $6,337,000 after purchasing an additional 109,224 shares in the last quarter. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Down 0.2 %

Worthington Steel stock opened at $43.22 on Friday. The company has a market cap of $2.19 billion and a price-to-earnings ratio of 17.43. The firm’s fifty day moving average is $36.40 and its 200 day moving average is $34.47. Worthington Steel, Inc. has a 52-week low of $21.00 and a 52-week high of $47.19.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $834.00 million for the quarter, compared to the consensus estimate of $748.40 million. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The business’s revenue was down 7.9% on a year-over-year basis. On average, equities research analysts anticipate that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Steel’s payout ratio is 25.81%.

About Worthington Steel

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.