Empowered Funds LLC Has $7.31 Million Position in Worthington Steel, Inc. $WS

Empowered Funds LLC boosted its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 13.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 240,916 shares of the company’s stock after purchasing an additional 28,780 shares during the period. Empowered Funds LLC owned about 0.47% of Worthington Steel worth $7,312,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WS. Royal Bank of Canada boosted its stake in shares of Worthington Steel by 14.8% during the 1st quarter. Royal Bank of Canada now owns 15,771 shares of the company’s stock valued at $399,000 after buying an additional 2,038 shares during the period. AQR Capital Management LLC grew its holdings in shares of Worthington Steel by 89.4% during the 1st quarter. AQR Capital Management LLC now owns 50,634 shares of the company’s stock valued at $1,269,000 after acquiring an additional 23,899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Worthington Steel by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock worth $490,000 after acquiring an additional 841 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Worthington Steel in the second quarter worth $670,000. Finally, First Trust Advisors LP increased its stake in shares of Worthington Steel by 3.9% in the second quarter. First Trust Advisors LP now owns 127,877 shares of the company’s stock worth $3,815,000 after acquiring an additional 4,756 shares during the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Price Performance

NYSE WS opened at $36.01 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.83 billion, a PE ratio of 25.91 and a beta of 2.34. Worthington Steel, Inc. has a 12-month low of $27.22 and a 12-month high of $49.17. The company has a 50 day moving average price of $37.79 and a two-hundred day moving average price of $38.03.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Thursday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $929.20 million for the quarter, compared to analyst estimates of $992.00 million. Worthington Steel had a net margin of 0.50% and a return on equity of 8.85%. Worthington Steel’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 EPS. As a group, equities analysts predict that Worthington Steel, Inc. will post 3.39 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.64 dividend on an annualized basis and a yield of 1.8%. Worthington Steel’s dividend payout ratio is currently 46.04%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WS shares. KeyCorp reissued an “overweight” rating on shares of Worthington Steel in a research report on Monday, June 29th. Zacks Research raised Worthington Steel from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded Worthington Steel from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $46.00.

Insider Buying and Selling

In other Worthington Steel news, insider Clifford Larivey sold 11,105 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $40.09, for a total transaction of $445,199.45. Following the transaction, the insider directly owned 64,308 shares in the company, valued at $2,578,107.72. This trade represents a 14.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Klingler sold 20,036 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $43.82, for a total value of $877,977.52. Following the completion of the sale, the chief operating officer directly owned 93,212 shares of the company’s stock, valued at $4,084,549.84. This represents a 17.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 33,708 shares of company stock worth $1,431,830. Corporate insiders own 2.60% of the company’s stock.

About Worthington Steel

Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.