Mirae Asset Global Investments Co. Ltd. Purchases New Stake in Worthington Steel, Inc. (NYSE:WS)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,943 shares of the company’s stock, valued at approximately $392,000.

Other hedge funds have also recently bought and sold shares of the company. TIAA Trust National Association purchased a new stake in shares of Worthington Steel during the fourth quarter valued at approximately $824,000. Denali Advisors LLC purchased a new stake in shares of Worthington Steel during the fourth quarter valued at approximately $1,682,000. AlphaMark Advisors LLC purchased a new stake in shares of Worthington Steel during the fourth quarter valued at approximately $114,000. Venture Visionary Partners LLC purchased a new stake in shares of Worthington Steel during the fourth quarter valued at approximately $340,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Worthington Steel during the fourth quarter valued at approximately $1,706,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Price Performance

Shares of NYSE:WS opened at $31.22 on Friday. The stock has a fifty day moving average of $32.72. Worthington Steel, Inc. has a 12-month low of $21.00 and a 12-month high of $40.15.

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

Worthington Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.64 annualized dividend and a yield of 2.05%.

Wall Street Analysts Forecast Growth

WS has been the topic of a number of analyst reports. Seaport Res Ptn reiterated a “neutral” rating on shares of Worthington Steel in a research note on Monday, March 11th. KeyCorp lifted their price target on shares of Worthington Steel from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note 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.