Jackson Creek Investment Advisors LLC Buys Shares of 45,377 Worthington Steel, Inc. (NYSE:WS)

Jackson Creek Investment Advisors LLC bought a new position in Worthington Steel, Inc. (NYSE:WS) in the fourth quarter, Holdings Channel.com reports. The firm bought 45,377 shares of the company’s stock, valued at approximately $1,444,000.

A number of other hedge funds also recently made changes to their positions in WS. New York State Teachers Retirement System increased its position in Worthington Steel by 0.5% during the 3rd quarter. New York State Teachers Retirement System now owns 64,487 shares of the company’s stock worth $2,193,000 after purchasing an additional 305 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Worthington Steel by 1.3% in the third quarter. PNC Financial Services Group Inc. now owns 28,304 shares of the company’s stock valued at $963,000 after buying an additional 350 shares in the last quarter. Amalgamated Bank grew its stake in shares of Worthington Steel by 8.9% during the third quarter. Amalgamated Bank now owns 10,173 shares of the company’s stock worth $346,000 after buying an additional 830 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Worthington Steel by 3.9% during the third quarter. Coldstream Capital Management Inc. now owns 21,935 shares of the company’s stock worth $747,000 after buying an additional 833 shares in the last quarter. Finally, De Lisle Partners LLP lifted its stake in shares of Worthington Steel by 1.9% in the 3rd quarter. De Lisle Partners LLP now owns 49,194 shares of the company’s stock valued at $1,674,000 after acquiring an additional 900 shares during the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Worthington Steel Price Performance

Worthington Steel stock opened at $26.14 on Friday. The business has a 50 day moving average of $29.25 and a 200-day moving average of $34.63. Worthington Steel, Inc. has a 1 year low of $24.80 and a 1 year high of $47.19. The company has a market capitalization of $1.33 billion, a P/E ratio of 9.17 and a beta of 2.62.

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 business 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 company’s revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. Equities analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The business also recently announced 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 2.45%. The ex-dividend date is Friday, March 14th. Worthington Steel’s dividend payout ratio is currently 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.