G2 Capital Management LLC OH Makes New $217,000 Investment in Worthington Steel, Inc. (NYSE:WS)

G2 Capital Management LLC OH bought a new position in shares of Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 7,718 shares of the company’s stock, valued at approximately $217,000.

Several other institutional investors also recently made changes to their positions in the stock. Clean Yield Group purchased a new stake in shares of Worthington Steel in the 4th quarter worth about $34,000. Salem Investment Counselors Inc. acquired a new position in Worthington Steel in the 4th quarter valued at about $76,000. SG Americas Securities LLC acquired a new position in Worthington Steel in the 4th quarter valued at about $101,000. AlphaMark Advisors LLC acquired a new position in Worthington Steel in the 4th quarter valued at about $114,000. Finally, Arizona State Retirement System acquired a new position in Worthington Steel in the 4th quarter valued at about $255,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Worthington Steel Stock Performance

NYSE WS traded up $0.31 during mid-day trading on Thursday, hitting $35.18. The company’s stock had a trading volume of 139,761 shares, compared to its average volume of 243,233. Worthington Steel, Inc. has a 52-week low of $21.00 and a 52-week high of $40.15. The company has a fifty day moving average price of $32.29.

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

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Friday, June 14th.

Insider Transactions at Worthington Steel

In related news, Director Charles M. Chiappone purchased 1,850 shares of the firm’s 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 owns 7,033 shares of the company’s stock, valued at $197,486.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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.