Cambridge Trust Co. Purchases Shares of 2,922 Worthington Steel, Inc. (NYSE:WS)

Cambridge Trust Co. acquired a new stake in Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,922 shares of the company’s stock, valued at approximately $82,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Key Financial Inc acquired a new position in shares of Worthington Steel in the fourth quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Worthington Steel in the 4th quarter worth about $795,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Worthington Steel during the 4th quarter worth about $432,000. Strs Ohio acquired a new stake in shares of Worthington Steel during the 4th quarter valued at about $174,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Worthington Steel in the 4th quarter valued at approximately $3,329,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Price Performance

WS opened at $32.90 on Friday. Worthington Steel, Inc. has a twelve month low of $21.00 and a twelve month high of $40.15. The stock has a 50 day moving average of $32.59.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Thursday, March 21st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.19. The firm had revenue of $805.80 million during the quarter, compared to analyst estimates of $664.80 million. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts expect 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 issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, June 14th.

Analyst Ratings Changes

Several equities analysts recently weighed in on WS shares. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Worthington Steel in a research report on Monday, March 11th. KeyCorp raised their price target on shares of Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a 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.