Pacer Advisors Inc. Invests $41.74 Million in Worthington Steel, Inc. (NYSE:WS)

Pacer Advisors Inc. bought a new stake in Worthington Steel, Inc. (NYSE:WS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,311,780 shares of the company’s stock, valued at approximately $41,741,000. Pacer Advisors Inc. owned about 2.58% of Worthington Steel at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WS. GAMMA Investing LLC raised its position in shares of Worthington Steel by 153.0% in the 3rd 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 period. nVerses Capital LLC acquired a new position in shares of Worthington Steel in the 3rd quarter valued at about $71,000. Eastern Bank purchased a new stake in shares of Worthington Steel during the 3rd quarter worth about $99,000. Quadrature Capital Ltd acquired a new stake in Worthington Steel during the 3rd quarter worth approximately $213,000. Finally, MML Investors Services LLC purchased a new position in Worthington Steel in the third quarter valued at approximately $239,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Steel Stock Down 2.7 %

WS opened at $28.98 on Tuesday. Worthington Steel, Inc. has a 52-week low of $28.20 and a 52-week high of $47.19. The company has a 50 day moving average of $36.54 and a two-hundred day moving average of $36.08. The company has a market cap of $1.47 billion and a P/E ratio of 10.17.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.37). The company had revenue of $739.00 million during the quarter, compared to analyst estimates of $740.40 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. Research analysts anticipate that Worthington Steel, Inc. will post 2.36 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, March 14th. Worthington Steel’s dividend payout ratio (DPR) is presently 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.