Worthington Steel, Inc. $WS Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 24.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,907 shares of the company’s stock after acquiring an additional 19,087 shares during the quarter. Teacher Retirement System of Texas owned 0.19% of Worthington Steel worth $2,891,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new stake in Worthington Steel during the 2nd quarter valued at approximately $34,000. DekaBank Deutsche Girozentrale grew its position in shares of Worthington Steel by 1,294.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 14,591 shares of the company’s stock worth $471,000 after buying an additional 13,545 shares in the last quarter. Frazier Financial Advisors LLC increased its stake in shares of Worthington Steel by 36.0% in the second quarter. Frazier Financial Advisors LLC now owns 6,132 shares of the company’s stock worth $183,000 after buying an additional 1,622 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Worthington Steel by 13.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 154,970 shares of the company’s stock valued at $4,623,000 after acquiring an additional 18,545 shares in the last quarter. Finally, Johnson Investment Counsel Inc. bought a new position in Worthington Steel during the 2nd quarter valued at $247,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Up 2.2%

Worthington Steel stock opened at $32.09 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.97 and a current ratio of 1.66. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $47.19. The company has a 50-day simple moving average of $31.85 and a 200-day simple moving average of $29.57. The firm has a market capitalization of $1.63 billion, a P/E ratio of 14.72 and a beta of 1.76.

Worthington Steel (NYSE:WS) last posted its earnings results on Wednesday, September 24th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Worthington Steel had a net margin of 3.80% and a return on equity of 10.11%. The firm had revenue of $872.90 million during the quarter, compared to analyst estimates of $785.30 million. During the same period in the previous year, the business posted $0.56 EPS. Worthington Steel’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, December 12th. Worthington Steel’s dividend payout ratio (DPR) is currently 29.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WS. Wall Street Zen raised shares of Worthington Steel from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. KeyCorp increased their target price on Worthington Steel from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.00.

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.