Worthington Steel (NYSE:WS) PT Raised to $39.00 at KeyCorp

Worthington Steel (NYSE:WS) had its price target increased by analysts at KeyCorp from $31.00 to $39.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 7.29% from the stock’s current price.

Separately, Seaport Res Ptn restated a “neutral” rating on shares of Worthington Steel in a report on Monday, March 11th.

Worthington Steel Price Performance

Worthington Steel stock opened at $36.35 on Tuesday. Worthington Steel has a 12 month low of $21.00 and a 12 month high of $40.15. The firm has a 50 day simple moving average of $30.97.

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

Insider Activity

In other news, Director Charles M. Chiappone bought 1,850 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were purchased at an average price of $28.08 per share, with a total value of $51,948.00. Following the purchase, the director now owns 7,033 shares in the company, valued at $197,486.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Worthington Steel

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new position in shares of Worthington Steel in the 4th quarter valued at about $113,286,000. Dimensional Fund Advisors LP purchased a new position in Worthington Steel during the 4th quarter worth approximately $68,769,000. Goldman Sachs Group Inc. purchased a new position in Worthington Steel during the 4th quarter worth approximately $11,187,000. Northern Trust Corp purchased a new position in Worthington Steel during the 4th quarter worth approximately $9,429,000. Finally, Norges Bank purchased a new position in Worthington Steel during the 4th quarter worth approximately $9,313,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

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.