Strs Ohio Makes New Investment in Worthington Steel, Inc. (NYSE:WS)

Strs Ohio acquired a new position in Worthington Steel, Inc. (NYSE:WS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,200 shares of the company’s stock, valued at approximately $174,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WS. TIAA Trust National Association purchased a new position in shares of Worthington Steel during the 4th quarter worth about $824,000. Denali Advisors LLC purchased a new position in shares of Worthington Steel during the 4th quarter worth about $1,682,000. AlphaMark Advisors LLC purchased a new position in shares of Worthington Steel during the 4th quarter worth about $114,000. Allspring Global Investments Holdings LLC bought a new stake in Worthington Steel during the 4th quarter valued at about $2,848,000. Finally, Financial Counselors Inc. bought a new stake in Worthington Steel during the 4th quarter valued at about $2,356,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Carl A. Nelson, Jr. sold 12,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $30.89, for a total transaction of $370,680.00. Following the transaction, the director now directly owns 85,583 shares of the company’s stock, valued at $2,643,658.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Worthington Steel Price Performance

Shares of WS opened at $30.79 on Wednesday. Worthington Steel, Inc. has a 1-year low of $21.00 and a 1-year high of $40.15. The firm’s 50-day moving average is $32.69.

Worthington Steel (NYSE:WS) last posted its quarterly earnings results on Thursday, March 21st. The company reported $0.99 EPS for the quarter, beating 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 quarterly revenue was up 3.2% on a year-over-year basis. Research analysts forecast that Worthington Steel, Inc. will post 2.92 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 annualized dividend and a dividend yield of 2.08%.

Analyst Upgrades and Downgrades

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

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.