OLD National Bancorp IN Decreases Stock Position in Worthington Steel, Inc. (NYSE:WS)

OLD National Bancorp IN trimmed its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,400 shares of the company’s stock after selling 600 shares during the quarter. OLD National Bancorp IN’s holdings in Worthington Steel were worth $331,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Worthington Steel by 153.0% during the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock worth $43,000 after buying an additional 759 shares in the last quarter. nVerses Capital LLC acquired a new position in Worthington Steel during the 3rd quarter worth approximately $71,000. Eastern Bank acquired a new position in Worthington Steel during the 3rd quarter worth approximately $99,000. Quadrature Capital Ltd purchased a new stake in shares of Worthington Steel in the 3rd quarter valued at approximately $213,000. Finally, MML Investors Services LLC acquired a new stake in shares of Worthington Steel in the 3rd quarter valued at $239,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Trading Down 3.7 %

Shares of WS stock opened at $29.08 on Friday. The company has a market cap of $1.48 billion and a P/E ratio of 10.20. The firm has a fifty day moving average price of $35.40 and a 200 day moving average price of $35.91. Worthington Steel, Inc. has a 12 month low of $28.20 and a 12 month high of $47.19.

Worthington Steel (NYSE:WS) last released its quarterly earnings data 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). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $740.40 million. During the same period in the prior year, the company posted $0.11 earnings per share. The company’s revenue was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 14th. This represents a $0.64 dividend on an annualized basis and a yield of 2.20%. Worthington Steel’s 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.