Anchor Investment Management LLC Makes New $32,000 Investment in Worthington Steel, Inc. (NYSE:WS)

Anchor Investment Management LLC acquired a new stake in shares of Worthington Steel, Inc. (NYSE:WS) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 999 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors have also recently made changes to their positions in WS. Vanguard Group Inc. raised its stake in Worthington Steel by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company’s stock valued at $142,154,000 after buying an additional 550,181 shares during the last quarter. State Street Corp boosted its stake in Worthington Steel by 2.2% in the 3rd quarter. State Street Corp now owns 1,557,031 shares of the company’s stock worth $52,955,000 after purchasing an additional 33,534 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in Worthington Steel during the 4th quarter worth approximately $41,741,000. Geode Capital Management LLC increased its stake in Worthington Steel by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 771,371 shares of the company’s stock valued at $26,240,000 after purchasing an additional 41,925 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Worthington Steel by 44.6% in the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company’s stock worth $11,424,000 after buying an additional 110,662 shares during the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Trading Up 0.2 %

WS opened at $24.10 on Thursday. The firm has a 50 day moving average of $26.23 and a two-hundred day moving average of $32.79. The firm has a market capitalization of $1.22 billion, a PE ratio of 8.46 and a beta of 2.03. Worthington Steel, Inc. has a 12-month low of $21.30 and a 12-month high of $47.19.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.32). The company had revenue of $687.40 million for the quarter, compared to analyst estimates of $732.00 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. Worthington Steel’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, June 13th. Worthington Steel’s payout ratio is presently 29.91%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp cut their target price on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th.

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.