Janney Montgomery Scott LLC Trims Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Janney Montgomery Scott LLC reduced its holdings in Worthington Steel, Inc. (NYSE:WS) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,132 shares of the company’s stock after selling 1,971 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Worthington Steel were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in Worthington Steel by 51.4% during the 1st quarter. Russell Investments Group Ltd. now owns 54,603 shares of the company’s stock worth $1,958,000 after buying an additional 18,547 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Worthington Steel by 30.1% in the first quarter. Vanguard Group Inc. now owns 5,246,781 shares of the company’s stock worth $188,097,000 after buying an additional 1,215,248 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Worthington Steel in the first quarter worth $723,000. Virtu Financial LLC purchased a new stake in shares of Worthington Steel during the first quarter worth $694,000. Finally, WINTON GROUP Ltd raised its holdings in Worthington Steel by 54.5% during the second quarter. WINTON GROUP Ltd now owns 141,024 shares of the company’s stock valued at $4,705,000 after buying an additional 49,725 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Stock Performance

Worthington Steel stock opened at $43.22 on Friday. Worthington Steel, Inc. has a 52 week low of $21.00 and a 52 week high of $47.19. The firm has a market capitalization of $2.19 billion and a PE ratio of 17.43. The business’s 50-day simple moving average is $36.40 and its 200-day simple moving average is $34.44.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The business 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% on a year-over-year basis. Research 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 announced 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. This represents a $0.64 dividend on an annualized basis and a yield of 1.48%. 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.