Eastern Bank Buys Shares of 2,922 Worthington Steel, Inc. (NYSE:WS)

Eastern Bank bought a new stake in shares of Worthington Steel, Inc. (NYSE:WS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,922 shares of the company’s stock, valued at approximately $99,000.

Several other large investors also recently added to or reduced their stakes in WS. Van ECK Associates Corp purchased a new position in shares of Worthington Steel during the 1st quarter valued at $2,010,000. Russell Investments Group Ltd. grew its holdings in shares of Worthington Steel by 51.4% during the 1st quarter. Russell Investments Group Ltd. now owns 54,603 shares of the company’s stock valued at $1,958,000 after acquiring an additional 18,547 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Worthington Steel by 30.1% during the 1st quarter. Vanguard Group Inc. now owns 5,246,781 shares of the company’s stock valued at $188,097,000 after acquiring an additional 1,215,248 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Worthington Steel during the 1st quarter valued at $723,000. Finally, Virtu Financial LLC purchased a new position in shares of Worthington Steel during the 1st quarter valued at $694,000. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Stock Up 3.0 %

Worthington Steel stock opened at $36.57 on Friday. The company’s fifty day simple moving average is $33.92 and its 200-day simple moving average is $33.53. Worthington Steel, Inc. has a 12 month low of $21.00 and a 12 month high of $41.01. The stock has a market cap of $1.84 billion and a P/E ratio of 14.75.

Worthington Steel (NYSE:WS) last issued 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 during the quarter, compared to analysts’ expectations of $748.40 million. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. Worthington Steel’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts expect that Worthington Steel, Inc. will post 2.95 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, December 27th. Investors of record on Friday, December 13th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Steel’s dividend payout ratio is presently 25.81%.

About Worthington Steel

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.