OLD National Bancorp IN Invests $309,000 in Worthington Steel, Inc. (NYSE:WS)

OLD National Bancorp IN purchased a new position in Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,000 shares of the company’s stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WS. Vontobel Holding Ltd. purchased a new stake in shares of Worthington Steel in the fourth quarter worth approximately $3,329,000. Allspring Global Investments Holdings LLC purchased a new position in Worthington Steel during the 4th quarter worth $2,848,000. Financial Counselors Inc. purchased a new position in Worthington Steel during the 4th quarter worth $2,356,000. New York State Teachers Retirement System purchased a new position in Worthington Steel during the 4th quarter worth $1,706,000. Finally, Denali Advisors LLC purchased a new position in Worthington Steel during the 4th quarter worth $1,682,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Steel Trading Down 5.4 %

Shares of NYSE WS opened at $30.83 on Friday. The firm’s fifty day moving average is $32.75. Worthington Steel, Inc. has a 12-month low of $21.00 and a 12-month high of $40.15.

Worthington Steel (NYSE:WS) last announced its earnings results on Thursday, March 21st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.19. The company had revenue of $805.80 million for the quarter, compared to the consensus estimate of $664.80 million. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that Worthington Steel, Inc. will post 2.92 EPS for the current year.

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.16 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.08%.

Wall Street Analysts Forecast Growth

WS has been the topic of several research reports. Seaport Res Ptn restated a “neutral” rating on shares of Worthington Steel in a report on Monday, March 11th. KeyCorp increased their target price on Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd.

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.