Vontobel Holding Ltd. Acquires New Holdings in Worthington Steel, Inc. (NYSE:WS)

Vontobel Holding Ltd. bought a new position in Worthington Steel, Inc. (NYSE:WS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 118,473 shares of the company’s stock, valued at approximately $3,329,000. Vontobel Holding Ltd. owned 0.24% of Worthington Steel at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in Worthington Steel during the fourth quarter valued at approximately $427,000. G2 Capital Management LLC OH bought a new stake in shares of Worthington Steel during the 4th quarter valued at $217,000. Financial Counselors Inc. bought a new stake in shares of Worthington Steel during the 4th quarter valued at $2,356,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Worthington Steel in the 4th quarter worth $2,848,000. Finally, Nisa Investment Advisors LLC bought a new position in Worthington Steel in the 4th quarter worth $929,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on WS shares. Seaport Res Ptn restated a “neutral” rating on shares of Worthington Steel in a research report on Monday, March 11th. KeyCorp lifted their target price on shares of Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd.

Worthington Steel Price Performance

NYSE WS opened at $32.72 on Friday. Worthington Steel, Inc. has a twelve month low of $21.00 and a twelve month high of $40.15. The stock has a 50-day simple moving average of $32.53.

Worthington Steel (NYSE:WS) last posted its quarterly earnings results on Thursday, March 21st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.19. The business had revenue of $805.80 million during the quarter, compared to the consensus estimate of $664.80 million. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts predict that Worthington Steel, Inc. will post 2.92 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.96%.

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.