JPMorgan Chase & Co. Purchases 26,809 Shares of Worthington Steel, Inc. (NYSE:WS)

JPMorgan Chase & Co. boosted its position in shares of Worthington Steel, Inc. (NYSE:WS) by 46.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 85,141 shares of the company’s stock after acquiring an additional 26,809 shares during the quarter. JPMorgan Chase & Co.’s holdings in Worthington Steel were worth $2,896,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WS. Millennium Management LLC raised 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 worth $6,337,000 after purchasing an additional 109,224 shares in the last quarter. Janus Henderson Group PLC raised its stake in Worthington Steel by 546.5% in the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock worth $3,179,000 after buying an additional 79,021 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Worthington Steel by 35.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company’s stock worth $8,948,000 after buying an additional 68,792 shares during the period. Squarepoint Ops LLC bought a new stake in Worthington Steel during the 2nd quarter valued at approximately $1,594,000. Finally, Geode Capital Management LLC grew its holdings in shares of Worthington Steel by 5.7% during the 3rd 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 period. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Performance

Shares of NYSE:WS opened at $30.33 on Monday. Worthington Steel, Inc. has a 52-week low of $27.28 and a 52-week high of $47.19. The firm has a market capitalization of $1.54 billion and a P/E ratio of 10.64. The stock has a 50 day moving average price of $38.22 and a 200-day moving average price of $36.18.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The firm had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $740.40 million. During the same period in the prior year, the business posted $0.11 EPS. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that Worthington Steel, Inc. will post 2.95 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel’s payout ratio is currently 22.46%.

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.