Brown Brothers Harriman & Co. Cuts Stock Holdings in Worthington Steel, Inc. (NYSE:WS)

Brown Brothers Harriman & Co. lowered its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 60.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,529 shares of the company’s stock after selling 12,794 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Worthington Steel were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Worthington Steel by 30.1% in the first quarter. Vanguard Group Inc. now owns 5,246,781 shares of the company’s stock valued at $188,097,000 after buying an additional 1,215,248 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Worthington Steel by 7.9% in the third quarter. Principal Financial Group Inc. now owns 163,757 shares of the company’s stock valued at $5,569,000 after buying an additional 11,976 shares during the last quarter. Virtu Financial LLC purchased a new position in Worthington Steel in the first quarter valued at $694,000. WINTON GROUP Ltd grew its holdings in shares of Worthington Steel by 54.5% during the second quarter. WINTON GROUP Ltd now owns 141,024 shares of the company’s stock worth $4,705,000 after purchasing an additional 49,725 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Worthington Steel during the first quarter worth about $37,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Stock Performance

Shares of WS stock opened at $44.69 on Thursday. The stock’s 50-day moving average is $38.06 and its two-hundred day moving average is $35.08. The firm has a market cap of $2.27 billion and a price-to-earnings ratio of 18.02. Worthington Steel, Inc. has a 1 year low of $21.00 and a 1 year high of $47.19.

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

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Steel’s payout ratio is 25.81%.

Worthington Steel 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.