Cardinal Capital Management Raises Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

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

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of Worthington Steel in the 4th quarter valued at about $113,286,000. Private Wealth Strategies L.L.C. purchased a new stake in Worthington Steel during the second quarter valued at approximately $6,955,000. Allspring Global Investments Holdings LLC boosted 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 valued at $8,752,000 after acquiring an additional 142,780 shares in the last quarter. Millennium Management LLC grew its holdings in Worthington Steel by 135.3% in 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 acquired a new position in shares of Worthington Steel during the fourth quarter worth $2,563,000. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Price Performance

Worthington Steel stock opened at $35.30 on Friday. Worthington Steel, Inc. has a 1-year low of $21.00 and a 1-year high of $41.01. The business has a fifty day moving average price of $33.72 and a 200-day moving average price of $33.54. The stock has a market capitalization of $1.78 billion and a price-to-earnings ratio of 14.23.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The firm had revenue of $834.00 million during the quarter, compared to analyst estimates of $748.40 million. Worthington Steel’s revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

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

Worthington Steel Company Profile

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.