Kennedy Capital Management LLC Trims Position in Worthington Steel, Inc. (NYSE:WS)

Kennedy Capital Management LLC trimmed its position in Worthington Steel, Inc. (NYSE:WS) by 34.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,372 shares of the company’s stock after selling 27,782 shares during the quarter. Kennedy Capital Management LLC owned about 0.10% of Worthington Steel worth $1,878,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WS. SG Americas Securities LLC purchased a new position in Worthington Steel during the fourth quarter worth about $101,000. Ritholtz Wealth Management purchased a new position in shares of Worthington Steel during the 4th quarter worth approximately $294,000. State of Alaska Department of Revenue acquired a new stake in Worthington Steel in the 4th quarter valued at approximately $526,000. Fifth Third Bancorp purchased a new stake in Worthington Steel in the fourth quarter valued at approximately $391,000. Finally, TIAA Trust National Association purchased a new position in shares of Worthington Steel during the fourth quarter worth $824,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, KeyCorp raised their target price on Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd.

Worthington Steel Stock Up 3.5 %

Shares of WS stock traded up $1.34 during trading hours on Wednesday, reaching $39.84. 21,375 shares of the stock were exchanged, compared to its average volume of 225,911. Worthington Steel, Inc. has a 12-month low of $21.00 and a 12-month high of $40.31. The business’s fifty day moving average is $33.32 and its two-hundred day moving average is $32.43.

Worthington Steel (NYSE:WS) last announced its earnings results on Wednesday, June 26th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. The business had revenue of $911.00 million during the quarter, compared to analyst estimates of $876.30 million. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Worthington Steel, Inc. will post 2.79 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.61%.

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.