Worthington Steel, Inc. (NYSE:WS) Shares Sold by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. trimmed its holdings in Worthington Steel, Inc. (NYSE:WS) by 35.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,696 shares of the company’s stock after selling 4,733 shares during the period. Summit Financial Strategies Inc.’s holdings in Worthington Steel were worth $277,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Jane Street Group LLC lifted its stake in Worthington Steel by 44.5% during the third quarter. Jane Street Group LLC now owns 68,744 shares of the company’s stock worth $2,338,000 after purchasing an additional 21,172 shares during the last quarter. Principal Financial Group Inc. grew its stake in Worthington Steel by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 163,757 shares of the company’s stock worth $5,569,000 after buying an additional 11,976 shares during the last quarter. Geode Capital Management LLC increased its position in Worthington Steel by 5.7% in the third quarter. Geode Capital Management LLC now owns 771,371 shares of the company’s stock worth $26,240,000 after buying an additional 41,925 shares during the period. Janus Henderson Group PLC lifted its stake in Worthington Steel by 546.5% in the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock valued at $3,179,000 after buying an additional 79,021 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Worthington Steel by 317.9% in the third quarter. Barclays PLC now owns 50,010 shares of the company’s stock valued at $1,701,000 after acquiring an additional 38,043 shares in the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Price Performance

WS opened at $29.86 on Monday. The business has a 50 day moving average price of $36.82 and a two-hundred day moving average price of $36.11. The company has a market capitalization of $1.52 billion and a price-to-earnings ratio of 10.48. Worthington Steel, Inc. has a 1-year low of $28.20 and a 1-year high of $47.19.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.37). The firm had revenue of $739.00 million during the quarter, compared to analyst estimates of $740.40 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. Equities analysts expect that Worthington Steel, Inc. will post 2.36 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.64 annualized dividend and a dividend yield of 2.14%. Worthington Steel’s dividend payout ratio is currently 22.46%.

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.