Panagora Asset Management Inc. Invests $1.32 Million in Worthington Steel, Inc. (NYSE:WS)

Panagora Asset Management Inc. bought a new position in shares of Worthington Steel, Inc. (NYSE:WS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 46,936 shares of the company’s stock, valued at approximately $1,319,000. Panagora Asset Management Inc. owned 0.09% of Worthington Steel as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of WS. Dimensional Fund Advisors LP acquired a new stake in shares of Worthington Steel during the fourth quarter worth $68,769,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Worthington Steel during the fourth quarter valued at $8,339,000. Principal Financial Group Inc. purchased a new position in shares of Worthington Steel during the fourth quarter valued at $4,463,000. Vontobel Holding Ltd. purchased a new position in shares of Worthington Steel during the fourth quarter valued at $3,329,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Worthington Steel during the fourth quarter valued at $2,848,000. 45.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Worthington Steel

In other Worthington Steel news, Director Carl A. Nelson, Jr. sold 12,000 shares of the business’s 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 completion of the sale, the director now owns 85,583 shares of the company’s stock, valued at $2,643,658.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WS shares. KeyCorp lifted their price target on Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Seaport Res Ptn reiterated a “neutral” rating on shares of Worthington Steel in a report on Monday, March 11th.

Worthington Steel Trading Down 0.9 %

Shares of NYSE WS opened at $33.52 on Thursday. The company has a 50-day moving average price of $33.29. Worthington Steel, Inc. has a one year low of $21.00 and a one year high of $40.15.

Worthington Steel (NYSE:WS) last issued its earnings results on Thursday, March 21st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.19. The firm had revenue of $805.80 million during the quarter, compared to analysts’ expectations of $664.80 million. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Worthington Steel, Inc. will post 2.92 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.91%.

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.