Fisher Asset Management LLC Takes Position in Worthington Steel, Inc. (NYSE:WS)

Fisher Asset Management LLC acquired a new position in Worthington Steel, Inc. (NYSE:WS) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 91,114 shares of the company’s stock, valued at approximately $2,560,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Key Financial Inc bought a new stake in shares of Worthington Steel during the 4th quarter valued at about $28,000. Clean Yield Group acquired a new stake in shares of Worthington Steel during the 4th quarter worth approximately $34,000. Salem Investment Counselors Inc. bought a new stake in shares of Worthington Steel in the 4th quarter valued at $76,000. Cambridge Trust Co. acquired a new position in shares of Worthington Steel during the 4th quarter valued at $82,000. Finally, SG Americas Securities LLC bought a new position in Worthington Steel during the fourth quarter worth $101,000. 45.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WS has been the topic of several research reports. KeyCorp upped 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. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Worthington Steel in a research note on Monday, March 11th.

Worthington Steel Price Performance

Shares of WS stock opened at $31.69 on Thursday. Worthington Steel, Inc. has a 12 month low of $21.00 and a 12 month high of $40.15. The company’s fifty day simple moving average is $32.88.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Thursday, March 21st. The company reported $0.99 earnings per share 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 firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts forecast that Worthington Steel, Inc. will post 2.92 EPS for the current year.

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, June 14th. This represents a $0.64 annualized dividend and a yield of 2.02%.

Insider Buying and Selling at Worthington Steel

In related news, Director Carl A. Nelson, Jr. sold 12,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were 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 in the company, valued at $2,643,658.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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.