Gerber LLC Has $767,000 Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Gerber LLC lessened its position in Worthington Steel, Inc. (NYSE:WS) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,108 shares of the company’s stock after selling 8,000 shares during the quarter. Worthington Steel makes up about 0.6% of Gerber LLC’s portfolio, making the stock its 29th biggest position. Gerber LLC’s holdings in Worthington Steel were worth $767,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank increased its position in shares of Worthington Steel by 2.9% during the 4th quarter. Swiss National Bank now owns 64,400 shares of the company’s stock worth $2,049,000 after purchasing an additional 1,800 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Worthington Steel by 67.3% during the 4th quarter. HighTower Advisors LLC now owns 30,194 shares of the company’s stock worth $961,000 after acquiring an additional 12,149 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Worthington Steel by 2.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,073 shares of the company’s stock worth $925,000 after acquiring an additional 769 shares during the period. Haven Private LLC bought a new position in shares of Worthington Steel during the 4th quarter worth approximately $671,000. Finally, Jackson Creek Investment Advisors LLC bought a new position in shares of Worthington Steel during the 4th quarter worth approximately $1,444,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, KeyCorp reduced their target price on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, March 7th.

Worthington Steel Price Performance

WS opened at $25.95 on Thursday. The business has a fifty day simple moving average of $28.77 and a 200 day simple moving average of $34.41. The company has a market capitalization of $1.32 billion, a PE ratio of 9.11 and a beta of 2.62. Worthington Steel, Inc. has a 1 year low of $24.22 and a 1 year high of $47.19.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share (EPS) 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 the consensus estimate of $740.40 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. Equities analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.16 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.64 annualized dividend and a yield of 2.47%. Worthington Steel’s dividend payout ratio 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.