3,862 Shares in Worthington Steel, Inc. (NYSE:WS) Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC bought a new position in shares of Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,862 shares of the company’s stock, valued at approximately $109,000.

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new stake in Worthington Steel during the 4th quarter worth about $11,187,000. The Manufacturers Life Insurance Company purchased a new stake in Worthington Steel during the 4th quarter worth about $479,000. Summit Financial Strategies Inc. purchased a new stake in Worthington Steel during the 4th quarter worth about $436,000. California State Teachers Retirement System purchased a new stake in Worthington Steel during the 4th quarter worth about $955,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Worthington Steel during the 4th quarter worth about $640,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Wall Street Analysts Forecast Growth

WS has been the topic of a number of recent analyst reports. Seaport Res Ptn reiterated a “neutral” rating on shares of Worthington Steel in a report on Monday, March 11th. KeyCorp increased their price objective on Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday.

Insider Activity

In other Worthington Steel news, Director Charles M. Chiappone acquired 1,850 shares of the stock in a transaction dated Friday, January 12th. The stock was acquired at an average price of $28.08 per share, with a total value of $51,948.00. Following the completion of the transaction, the director now directly owns 7,033 shares in the company, valued at $197,486.64. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Worthington Steel Price Performance

Shares of WS traded up $0.15 during mid-day trading on Friday, hitting $35.85. The company’s stock had a trading volume of 127,417 shares, compared to its average volume of 383,113. The business has a 50-day moving average of $31.87. Worthington Steel, Inc. has a 1-year low of $21.00 and a 1-year high of $40.15.

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 analyst estimates of $664.80 million. Worthington Steel’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts anticipate that Worthington Steel, Inc. will post 2.92 EPS for the current year.

Worthington Steel Announces Dividend

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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, June 14th.

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.