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

Worthington Steel (NYSE:WS) had its price objective lifted by KeyCorp from $31.00 to $39.00 in a report issued on Tuesday, Benzinga reports. The brokerage 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 Trading Down 1.3 %

WS stock opened at $35.86 on Tuesday. The stock’s 50 day moving average price is $31.11. 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 released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $664.80 million. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that Worthington Steel will post 2.92 EPS for the current year.

Worthington Steel Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, June 14th.

Insider Buying and Selling

In other Worthington Steel news, Director Charles M. Chiappone bought 1,850 shares of Worthington Steel stock in a transaction on Friday, January 12th. The shares were acquired at an average price of $28.08 per share, for a total transaction of $51,948.00. Following the completion of the purchase, the director now directly owns 7,033 shares in the company, valued at approximately $197,486.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Worthington Steel

Several hedge funds have recently modified their holdings of the stock. Salem Investment Counselors Inc. acquired a new position in Worthington Steel in the 4th quarter worth about $76,000. Financial Counselors Inc. acquired a new position in shares of Worthington Steel during the 4th quarter worth approximately $2,356,000. G2 Capital Management LLC OH purchased a new position in Worthington Steel during the fourth quarter worth approximately $217,000. Fifth Third Bancorp acquired a new position in Worthington Steel during the fourth quarter worth $391,000. Finally, Venture Visionary Partners LLC acquired a new stake in shares of Worthington Steel in the 4th quarter worth $340,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

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.