Zurcher Kantonalbank Zurich Cantonalbank Makes New $795,000 Investment in Worthington Steel, Inc. (NYSE:WS)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Worthington Steel, Inc. (NYSE:WS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 28,307 shares of the company’s stock, valued at approximately $795,000. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Worthington Steel at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Clean Yield Group bought a new position in Worthington Steel during the 4th quarter valued at about $34,000. Salem Investment Counselors Inc. bought a new position in Worthington Steel during the fourth quarter valued at approximately $76,000. SG Americas Securities LLC bought a new position in Worthington Steel during the fourth quarter valued at approximately $101,000. AlphaMark Advisors LLC bought a new stake in Worthington Steel in the 4th quarter worth approximately $114,000. Finally, Strs Ohio bought a new stake in Worthington Steel in the 4th quarter worth approximately $174,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WS. KeyCorp raised their price target on Worthington Steel from $39.00 to $40.00 and gave the stock 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.

Worthington Steel Price Performance

Shares of WS stock opened at $31.61 on Tuesday. Worthington Steel, Inc. has a 12 month low of $21.00 and a 12 month high of $40.15. The firm’s 50 day simple moving average is $32.69.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Thursday, March 21st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.19. The business 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% on a year-over-year basis. As a group, research analysts predict that Worthington Steel, Inc. will post 2.92 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 2.02%. The ex-dividend date of this dividend is Friday, June 14th.

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.