The Manufacturers Life Insurance Company Purchases 1,440 Shares of Worthington Steel, Inc. (NYSE:WS)

The Manufacturers Life Insurance Company increased its position in shares of Worthington Steel, Inc. (NYSE:WS) by 9.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,362 shares of the company’s stock after purchasing an additional 1,440 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Worthington Steel were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in Worthington Steel by 135.3% in the 2nd quarter. Millennium Management LLC now owns 189,968 shares of the company’s stock valued at $6,337,000 after purchasing an additional 109,224 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Worthington Steel in the second quarter valued at approximately $1,594,000. Cubist Systematic Strategies LLC boosted its stake in shares of Worthington Steel by 207.8% in the second quarter. Cubist Systematic Strategies LLC now owns 44,947 shares of the company’s stock valued at $1,499,000 after buying an additional 30,346 shares during the period. Magnetar Financial LLC acquired a new stake in Worthington Steel during the second quarter worth approximately $242,000. Finally, Public Sector Pension Investment Board raised its holdings in Worthington Steel by 7.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 67,658 shares of the company’s stock valued at $2,257,000 after acquiring an additional 4,434 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Stock Performance

NYSE:WS opened at $33.64 on Wednesday. Worthington Steel, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $41.01. The company has a market cap of $1.69 billion and a price-to-earnings ratio of 13.56. The stock has a fifty day moving average price of $33.62 and a 200-day moving average price of $33.53.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, September 25th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $834.00 million for the quarter, compared to the consensus estimate of $748.40 million. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The firm’s revenue was down 7.9% compared to the same quarter last year. Research analysts predict that Worthington Steel, Inc. will post 2.95 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.90%. Worthington Steel’s dividend payout ratio is 25.81%.

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.