Worthington Steel, Inc. (NYSE:WS) Director Carl A. Nelson, Jr. Sells 12,000 Shares

Worthington Steel, Inc. (NYSE:WS) Director Carl A. Nelson, Jr. sold 12,000 shares of Worthington Steel stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $30.89, for a total value of $370,680.00. Following the transaction, the director now directly owns 85,583 shares in the company, valued at $2,643,658.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Worthington Steel Stock Performance

Worthington Steel stock traded down $0.84 during trading hours on Tuesday, hitting $30.79. The company had a trading volume of 168,645 shares, compared to its average volume of 233,501. The company’s fifty day moving average is $32.69. Worthington Steel, Inc. 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 (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.19. The firm had revenue of $805.80 million for the quarter, compared to analysts’ expectations of $664.80 million. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Worthington Steel, Inc. will post 2.92 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued 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 2.08%.

Hedge Funds Weigh In On Worthington Steel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WS. Vanguard Group Inc. acquired a new position in shares of Worthington Steel during the 4th quarter worth $113,286,000. Dimensional Fund Advisors LP bought a new stake in shares of Worthington Steel during the 4th quarter worth about $68,769,000. Norges Bank acquired a new position in shares of Worthington Steel during the 4th quarter valued at about $9,313,000. Charles Schwab Investment Management Inc. acquired a new position in Worthington Steel during the fourth quarter valued at approximately $8,339,000. Finally, Private Wealth Strategies L.L.C. bought a new position in shares of Worthington Steel in the fourth quarter valued at approximately $5,757,000. Institutional investors own 45.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on WS. Seaport Res Ptn reiterated a “neutral” rating on shares of Worthington Steel in a research report on Monday, March 11th. 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 research report on Wednesday, April 3rd.

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.