Denali Advisors LLC Makes New $2.34 Million Investment in Worthington Steel, Inc. $WS

by · The Cerbat Gem

Denali Advisors LLC bought a new position in Worthington Steel, Inc. (NYSE:WS – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 67,700 shares of the company’s stock, valued at approximately $2,344,000.

Other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in Worthington Steel by 3.2% in the fourth quarter. Teacher Retirement System of Texas now owns 530,069 shares of the company’s stock worth $18,351,000 after purchasing an additional 16,653 shares in the last quarter. American Century Companies Inc. raised its holdings in Worthington Steel by 51.3% in 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 in the last quarter. LSV Asset Management bought a new position in Worthington Steel in the third quarter worth about $1,674,000. Fisher Asset Management LLC raised its holdings in Worthington Steel by 44.3% in the third quarter. Fisher Asset Management LLC now owns 191,673 shares of the company’s stock worth $5,825,000 after purchasing an additional 58,864 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in Worthington Steel by 150.4% in the third quarter. Royce & Associates LP now owns 314,494 shares of the company’s stock worth $9,557,000 after purchasing an additional 188,884 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Stock Performance

WS opened at $40.45 on Friday. Worthington Steel, Inc. has a 52-week low of $24.23 and a 52-week high of $49.17. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.06 billion, a P/E ratio of 23.79 and a beta of 2.23. The firm’s 50-day moving average price is $35.04 and its 200-day moving average price is $36.18.

Worthington Steel (NYSE:WS – Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.20). Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The company had revenue of $769.80 million for the quarter, compared to analyst estimates of $882.95 million. During the same quarter last year, the company earned $0.35 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts anticipate that Worthington Steel, Inc. will post 2.27 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, June 12th. Worthington Steel’s dividend payout ratio is 37.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. KeyCorp assumed coverage on shares of Worthington Steel in a report on Wednesday, March 25th. They set an “overweight” rating and a $46.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a report on Monday, April 20th. Wall Street Zen downgraded shares of Worthington Steel from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Zacks Research downgraded shares of Worthington Steel from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.00.

Check Out Our Latest Stock Analysis on WS

Worthington Steel Profile

(Free Report)

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.

See Also

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