Verition Fund Management LLC Reduces Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Verition Fund Management LLC reduced its holdings in Worthington Steel, Inc. (NYSE:WS) by 53.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,930 shares of the company’s stock after selling 13,715 shares during the period. Verition Fund Management LLC’s holdings in Worthington Steel were worth $406,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Coldstream Capital Management Inc. boosted its holdings in shares of Worthington Steel by 1.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 21,102 shares of the company’s stock valued at $704,000 after acquiring an additional 304 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Worthington Steel by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 64,487 shares of the company’s stock valued at $2,193,000 after acquiring an additional 305 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Worthington Steel by 1.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 28,304 shares of the company’s stock valued at $963,000 after acquiring an additional 350 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Worthington Steel by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock valued at $517,000 after acquiring an additional 400 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Worthington Steel by 153.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after acquiring an additional 759 shares during the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Price Performance

WS stock opened at $43.49 on Friday. The firm’s fifty day simple moving average is $40.45 and its 200-day simple moving average is $35.97. Worthington Steel, Inc. has a 12 month low of $22.74 and a 12 month high of $47.19. The company has a market capitalization of $2.21 billion and a P/E ratio of 17.54.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results 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. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The firm had revenue of $834.00 million for the quarter, compared to the consensus estimate of $748.40 million. Worthington Steel’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Worthington Steel, Inc. will post 2.95 earnings per share for the current 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 issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Steel’s dividend payout ratio (DPR) is presently 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.