Arizona State Retirement System Purchases New Holdings in Worthington Steel, Inc. (NYSE:WS)

Arizona State Retirement System purchased a new stake in Worthington Steel, Inc. (NYSE:WS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,079 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WS. Denali Advisors LLC bought a new position in Worthington Steel in the fourth quarter valued at approximately $1,682,000. TIAA Trust National Association bought a new position in Worthington Steel in the fourth quarter valued at approximately $824,000. State of Alaska Department of Revenue bought a new position in Worthington Steel in the fourth quarter valued at approximately $526,000. Windsor Advisory Group LLC bought a new position in Worthington Steel in the fourth quarter valued at approximately $496,000. Finally, Fifth Third Bancorp bought a new position in Worthington Steel in the fourth quarter valued at approximately $391,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Trading Up 0.6 %

Shares of NYSE WS opened at $32.90 on Monday. The stock’s fifty day moving average price is $32.59. Worthington Steel, Inc. has a twelve month low of $21.00 and a twelve month high of $40.15.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $664.80 million. Worthington Steel’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Worthington Steel, Inc. will post 2.92 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

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 paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, June 14th.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WS. KeyCorp raised their price objective on shares of Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Seaport Res Ptn reissued a “neutral” rating on shares of Worthington Steel in a research report on Monday, March 11th.

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.