Park National Corp OH Trims Stock Position in Worthington Steel, Inc. (NYSE:WS)

Park National Corp OH cut its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,683 shares of the company’s stock after selling 1,193 shares during the quarter. Park National Corp OH’s holdings in Worthington Steel were worth $296,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Anchor Investment Management LLC purchased a new position in Worthington Steel during the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its holdings in Worthington Steel by 82.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company’s stock valued at $132,000 after buying an additional 1,883 shares during the period. Voleon Capital Management LP purchased a new position in Worthington Steel during the fourth quarter valued at approximately $213,000. KLP Kapitalforvaltning AS purchased a new position in Worthington Steel during the fourth quarter valued at approximately $220,000. Finally, Bank of Montreal Can increased its holdings in Worthington Steel by 6.0% during the fourth quarter. Bank of Montreal Can now owns 8,848 shares of the company’s stock valued at $282,000 after buying an additional 497 shares during the period. 45.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Worthington Steel Stock Up 0.1%

Shares of WS stock opened at $25.60 on Friday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 8.98 and a beta of 1.98. The company’s 50 day moving average is $25.40 and its 200 day moving average is $30.50. Worthington Steel, Inc. has a 52-week low of $21.30 and a 52-week high of $47.19.

Worthington Steel (NYSE:WS) last announced its 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 firm had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. Worthington Steel’s revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share. Analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 annualized dividend and a yield of 2.50%. Worthington Steel’s dividend payout ratio (DPR) is 29.91%.

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.