39,040 Shares in Worthington Steel, Inc. $WS Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new position in Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 39,040 shares of the company’s stock, valued at approximately $1,351,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Worthington Steel by 14.8% during the 1st quarter. Royal Bank of Canada now owns 15,771 shares of the company’s stock valued at $399,000 after acquiring an additional 2,038 shares in the last quarter. AQR Capital Management LLC boosted its position in Worthington Steel by 89.4% during the 1st quarter. AQR Capital Management LLC now owns 50,634 shares of the company’s stock valued at $1,269,000 after acquiring an additional 23,899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Worthington Steel by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock valued at $490,000 after acquiring an additional 841 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Worthington Steel during the 2nd quarter valued at $670,000. Finally, First Trust Advisors LP boosted its position in Worthington Steel by 3.9% during the 2nd quarter. First Trust Advisors LP now owns 127,877 shares of the company’s stock valued at $3,815,000 after acquiring an additional 4,756 shares in the last quarter. Institutional investors own 45.41% of the company’s stock.

Wall Street Analyst Weigh In

WS has been the topic of several recent research reports. KeyCorp increased their target price on Worthington Steel from $38.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Zacks Research raised Worthington Steel from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research report on Monday, April 20th. Finally, Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Worthington Steel presently has an average rating of “Hold” and an average price target of $46.00.

Worthington Steel Stock Performance

Shares of WS opened at $43.50 on Friday. Worthington Steel, Inc. has a 12 month low of $24.23 and a 12 month high of $49.17. The stock has a fifty day moving average price of $38.26 and a 200-day moving average price of $37.91. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.21 billion, a PE ratio of 25.59 and a beta of 2.22.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Thursday, March 26th. The company reported $0.27 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 business had revenue of $769.80 million for the quarter, compared to analysts’ expectations of $882.95 million. During the same quarter in the prior year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts predict that Worthington Steel, Inc. will post 2.15 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, June 12th. Worthington Steel’s dividend payout ratio is currently 37.65%.

Insider Activity

In other news, COO Jeffrey R. Klingler sold 20,036 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $43.82, for a total transaction of $877,977.52. Following the completion of the sale, the chief operating officer owned 93,212 shares in the company, valued at approximately $4,084,549.84. This represents a 17.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Clifford Larivey sold 11,105 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $40.09, for a total value of $445,199.45. Following the sale, the insider owned 64,308 shares of the company’s stock, valued at approximately $2,578,107.72. This represents a 14.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 33,708 shares of company stock worth $1,431,830. Insiders own 2.60% of the company’s stock.

About Worthington Steel

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.