Summit Financial Strategies Inc. Has $277,000 Stake in Worthington Steel, Inc. (NYSE:WS)

Summit Financial Strategies Inc. reduced its position in shares of Worthington Steel, Inc. (NYSE:WS) by 35.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,696 shares of the company’s stock after selling 4,733 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Worthington Steel were worth $277,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in Worthington Steel in the 4th quarter worth approximately $41,741,000. Millennium Management LLC raised its holdings in shares of Worthington Steel by 135.3% during the second quarter. Millennium Management LLC now owns 189,968 shares of the company’s stock worth $6,337,000 after acquiring an additional 109,224 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Worthington Steel by 546.5% during the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock worth $3,179,000 after acquiring an additional 79,021 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Worthington Steel by 35.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company’s stock valued at $8,948,000 after purchasing an additional 68,792 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Worthington Steel in the second quarter valued at about $1,594,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Price Performance

WS opened at $29.86 on Monday. The company has a market capitalization of $1.52 billion and a PE ratio of 10.48. Worthington Steel, Inc. has a fifty-two week low of $28.20 and a fifty-two week high of $47.19. The business has a 50-day moving average of $36.82 and a 200-day moving average of $36.11.

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

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.16 per share. 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 (DPR) is presently 22.46%.

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.