Principal Financial Group Inc. Has $5.57 Million Stock Position in Worthington Steel, Inc. (NYSE:WS)

Principal Financial Group Inc. raised its stake in Worthington Steel, Inc. (NYSE:WS) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,757 shares of the company’s stock after acquiring an additional 11,976 shares during the quarter. Principal Financial Group Inc.’s holdings in Worthington Steel were worth $5,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its stake in shares of Worthington Steel by 4.2% during the third quarter. Franklin Resources Inc. now owns 29,170 shares of the company’s stock valued at $995,000 after purchasing an additional 1,178 shares during the last quarter. Barclays PLC boosted its position in Worthington Steel by 317.9% in the 3rd quarter. Barclays PLC now owns 50,010 shares of the company’s stock valued at $1,701,000 after buying an additional 38,043 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Worthington Steel by 3.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 21,935 shares of the company’s stock valued at $747,000 after buying an additional 833 shares during the period. Geode Capital Management LLC raised its position in shares of Worthington Steel by 5.7% during the third quarter. Geode Capital Management LLC now owns 771,371 shares of the company’s stock worth $26,240,000 after acquiring an additional 41,925 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Worthington Steel by 113.2% in the third quarter. Public Employees Retirement System of Ohio now owns 13,314 shares of the company’s stock valued at $453,000 after acquiring an additional 7,068 shares during the last quarter. 45.41% of the stock is owned by institutional investors.

Worthington Steel Trading Up 1.6 %

Shares of NYSE:WS opened at $31.82 on Thursday. Worthington Steel, Inc. has a 1-year low of $23.82 and a 1-year high of $47.19. The stock has a market capitalization of $1.62 billion and a P/E ratio of 12.83. The business has a 50-day moving average price of $40.54 and a two-hundred day moving average price of $36.25.

Worthington Steel (NYSE:WS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The business had revenue of $739.00 million for the quarter, compared to the consensus estimate of $740.40 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, equities analysts predict that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.64 annualized dividend and a dividend yield of 2.01%. Worthington Steel’s dividend payout ratio is currently 22.46%.

Worthington Steel 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.