Cornercap Investment Counsel Inc. Acquires New Stake in Worthington Steel, Inc. (NYSE:WS)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Worthington Steel, Inc. (NYSE:WS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,361 shares of the company’s stock, valued at approximately $432,000.

Other hedge funds have also made changes to their positions in the company. Clean Yield Group purchased a new stake in Worthington Steel in the 4th quarter worth approximately $34,000. Salem Investment Counselors Inc. bought a new position in shares of Worthington Steel during the 4th quarter valued at $76,000. SG Americas Securities LLC bought a new position in shares of Worthington Steel during the 4th quarter valued at $101,000. AlphaMark Advisors LLC bought a new position in shares of Worthington Steel during the 4th quarter valued at $114,000. Finally, Strs Ohio bought a new position in shares of Worthington Steel during the 4th quarter valued at $174,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Worthington Steel Trading Down 0.5 %

Shares of Worthington Steel stock opened at $32.69 on Thursday. The company’s 50-day simple moving average is $32.55. Worthington Steel, Inc. has a twelve month low of $21.00 and a twelve month high of $40.15.

Worthington Steel (NYSE:WS) last issued its 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 for the quarter, compared to analyst estimates of $664.80 million. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts forecast that Worthington Steel, Inc. will post 2.92 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.16 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.96%.

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.