Worthington Steel (NYSE:WS) Price Target Raised to $39.00

Worthington Steel (NYSE:WS) had its target price boosted by KeyCorp from $31.00 to $39.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Seaport Res Ptn restated a neutral rating on shares of Worthington Steel in a research report on Monday, March 11th.

Worthington Steel Stock Down 1.3 %

NYSE:WS opened at $35.85 on Tuesday. The firm’s fifty day moving average is $31.27. Worthington Steel has a fifty-two week low of $21.00 and a fifty-two week high of $40.15.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Thursday, March 21st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.19. The business had revenue of $805.80 million for the quarter, compared to the consensus estimate of $664.80 million. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts expect that Worthington Steel will post 2.92 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.79%.

Insider Buying and Selling at Worthington Steel

In other news, Director Charles M. Chiappone bought 1,850 shares of the company’s stock in a transaction on Friday, January 12th. The stock was purchased at an average cost of $28.08 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Worthington Steel

Large investors have recently bought and sold shares of the company. Key Financial Inc acquired a new stake in shares of Worthington Steel in the fourth quarter valued at about $28,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Worthington Steel in the fourth quarter valued at about $30,000. Clean Yield Group acquired a new stake in shares of Worthington Steel in the fourth quarter valued at about $34,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Worthington Steel in the fourth quarter valued at about $48,000. Finally, TFO Wealth Partners LLC acquired a new stake in shares of Worthington Steel in the fourth quarter valued at about $50,000. 45.41% of the stock is currently owned by institutional investors.

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.