Cardinal Capital Management Grows Stock Position in Worthington Steel, Inc. (NYSE:WS)

Cardinal Capital Management boosted its position in shares of Worthington Steel, Inc. (NYSE:WS) by 8.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,442 shares of the company’s stock after buying an additional 1,066 shares during the quarter. Cardinal Capital Management’s holdings in Worthington Steel were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of WS. Vanguard Group Inc. bought a new position in shares of Worthington Steel during the fourth quarter valued at approximately $113,286,000. Private Wealth Strategies L.L.C. bought a new position in Worthington Steel in the 2nd quarter valued at $6,955,000. Allspring Global Investments Holdings LLC increased its stake in Worthington Steel by 140.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 244,118 shares of the company’s stock worth $8,752,000 after purchasing an additional 142,780 shares during the period. Millennium Management LLC lifted its position in shares of Worthington Steel by 135.3% during the second quarter. Millennium Management LLC now owns 189,968 shares of the company’s stock worth $6,337,000 after purchasing an additional 109,224 shares during the last quarter. Finally, Fisher Asset Management LLC bought a new position in shares of Worthington Steel in the fourth quarter worth about $2,563,000. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Price Performance

WS stock opened at $35.30 on Friday. Worthington Steel, Inc. has a 12 month low of $21.00 and a 12 month high of $41.01. The firm’s 50-day moving average is $33.72 and its 200 day moving average is $33.54. The company has a market capitalization of $1.78 billion and a PE ratio of 14.23.

Worthington Steel (NYSE:WS) last issued its earnings results on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $834.00 million for the quarter, compared to analyst estimates of $748.40 million. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. Worthington Steel’s revenue for the quarter was down 7.9% on a year-over-year basis. Sell-side analysts forecast that Worthington Steel, Inc. will post 2.95 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Steel’s dividend payout ratio (DPR) is presently 25.81%.

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.