Wedge Capital Management L L P NC Takes Position in Worthington Steel, Inc. (NYSE:WS)

Wedge Capital Management L L P NC purchased a new stake in Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 71,905 shares of the company’s stock, valued at approximately $2,021,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Worthington Steel during the 4th quarter worth $101,000. Salem Investment Counselors Inc. bought a new stake in Worthington Steel during the 4th quarter worth $76,000. IFG Advisory LLC bought a new stake in Worthington Steel during the 4th quarter worth $337,000. Ritholtz Wealth Management bought a new stake in Worthington Steel during the 4th quarter worth $294,000. Finally, State of Alaska Department of Revenue bought a new stake in Worthington Steel during the 4th quarter worth $526,000. Institutional investors own 45.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Worthington Steel Stock Performance

Shares of NYSE:WS opened at $32.54 on Thursday. The company has a 50-day simple moving average of $32.72. Worthington Steel, Inc. has a 1 year low of $21.00 and a 1 year high of $40.15.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Thursday, March 21st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.19. The business had revenue of $805.80 million during the quarter, compared to analyst estimates of $664.80 million. Worthington Steel’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that Worthington Steel, Inc. will post 2.92 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, June 14th.

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.