Cambridge Trust Co. Takes Position in Worthington Steel, Inc. (NYSE:WS)

Cambridge Trust Co. purchased a new position in shares of Worthington Steel, Inc. (NYSE:WS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,922 shares of the company’s stock, valued at approximately $82,000.

Other large investors have also recently added to or reduced their stakes in the company. TIAA Trust National Association purchased a new stake in shares of Worthington Steel in the fourth quarter valued at $824,000. Denali Advisors LLC acquired a new position in shares of Worthington Steel in the fourth quarter valued at approximately $1,682,000. AlphaMark Advisors LLC acquired a new stake in Worthington Steel during the fourth quarter worth approximately $114,000. Financial Counselors Inc. purchased a new stake in Worthington Steel in the 4th quarter worth approximately $2,356,000. Finally, Venture Visionary Partners LLC acquired a new position in Worthington Steel in the 4th quarter valued at $340,000. 45.41% of the stock is owned by institutional investors and hedge funds.

Worthington Steel Trading Up 0.6 %

NYSE:WS opened at $32.90 on Friday. The stock’s 50 day moving average is $32.59. Worthington Steel, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $40.15.

Worthington Steel (NYSE:WS) last issued its earnings results on Thursday, March 21st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts predict that Worthington Steel, Inc. will post 2.92 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, June 14th.

Analysts Set New Price Targets

Several equities analysts recently commented on WS shares. Seaport Res Ptn reiterated a “neutral” rating on shares of Worthington Steel in a research note on Monday, March 11th. 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.

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.