Gerber LLC Has $767,000 Stock Position in Worthington Steel, Inc. (NYSE:WS)

Gerber LLC lowered its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 24.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,108 shares of the company’s stock after selling 8,000 shares during the period. Worthington Steel comprises about 0.6% of Gerber LLC’s holdings, making the stock its 29th biggest position. Gerber LLC’s holdings in Worthington Steel were worth $767,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of WS. Jane Street Group LLC boosted its holdings in Worthington Steel by 44.5% in the third quarter. Jane Street Group LLC now owns 68,744 shares of the company’s stock worth $2,338,000 after acquiring an additional 21,172 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Worthington Steel by 7.9% during the third quarter. Principal Financial Group Inc. now owns 163,757 shares of the company’s stock valued at $5,569,000 after acquiring an additional 11,976 shares during the last quarter. Geode Capital Management LLC grew its holdings in Worthington Steel by 5.7% during the third 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 during the period. Janus Henderson Group PLC grew its holdings in Worthington Steel by 546.5% during the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock valued at $3,179,000 after purchasing an additional 79,021 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Worthington Steel by 46.0% during the third quarter. JPMorgan Chase & Co. now owns 85,141 shares of the company’s stock valued at $2,896,000 after purchasing an additional 26,809 shares during the period. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Price Performance

Shares of NYSE:WS opened at $25.95 on Thursday. The stock’s 50-day moving average is $28.77 and its 200 day moving average is $34.41. The company has a market cap of $1.32 billion, a PE ratio of 9.11 and a beta of 2.62. Worthington Steel, Inc. has a 1 year low of $24.22 and a 1 year high of $47.19.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.19 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 company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $740.40 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid 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 2.47%. Worthington Steel’s dividend payout ratio (DPR) is 22.46%.

Analyst Upgrades and Downgrades

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

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.