Burney Co. Decreases Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Burney Co. trimmed its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,860 shares of the company’s stock after selling 1,783 shares during the quarter. Burney Co.’s holdings in Worthington Steel were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WS. GAMMA Investing LLC increased its position in Worthington Steel by 153.0% in the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock worth $43,000 after buying an additional 759 shares during the last quarter. nVerses Capital LLC purchased a new stake in Worthington Steel in the third quarter worth $71,000. Eastern Bank purchased a new stake in Worthington Steel in the third quarter worth $99,000. Victory Capital Management Inc. purchased a new stake in Worthington Steel in the second quarter worth $208,000. Finally, Quadrature Capital Ltd purchased a new stake in Worthington Steel in the third quarter worth $213,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Worthington Steel Price Performance

NYSE:WS opened at $30.33 on Friday. The business has a fifty day simple moving average of $38.22 and a two-hundred day simple moving average of $36.16. Worthington Steel, Inc. has a 1 year low of $27.28 and a 1 year high of $47.19. The company has a market capitalization of $1.54 billion and a P/E ratio of 10.64.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $740.40 million. During the same period in the prior year, the business earned $0.11 earnings per share. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, analysts anticipate that Worthington Steel, Inc. will post 2.95 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business 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. The ex-dividend date is Friday, March 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.11%. Worthington Steel’s payout ratio is 22.46%.

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.