Kennedy Capital Management LLC Sells 27,782 Shares of Worthington Steel, Inc. (NYSE:WS)

Kennedy Capital Management LLC lessened its holdings in Worthington Steel, Inc. (NYSE:WS) by 34.7% during the first quarter, HoldingsChannel.com reports. The firm owned 52,372 shares of the company’s stock after selling 27,782 shares during the period. Kennedy Capital Management LLC’s holdings in Worthington Steel were worth $1,878,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WS. Key Financial Inc acquired a new position in Worthington Steel in the 4th quarter valued at about $28,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Worthington Steel in the fourth quarter valued at $30,000. Clean Yield Group bought a new position in Worthington Steel during the 4th quarter worth $34,000. TFO Wealth Partners LLC bought a new position in shares of Worthington Steel during the fourth quarter worth about $50,000. Finally, Cambridge Trust Co. bought a new position in Worthington Steel during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Analyst Ratings Changes

Separately, KeyCorp upped 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.

Worthington Steel Stock Performance

Shares of WS stock traded up $1.34 during mid-day trading on Wednesday, hitting $39.84. The company’s stock had a trading volume of 21,375 shares, compared to its average volume of 225,911. The company’s fifty day simple moving average is $33.32 and its 200-day simple moving average is $32.43. Worthington Steel, Inc. has a 52 week low of $21.00 and a 52 week high of $40.31.

Worthington Steel (NYSE:WS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. The business had revenue of $911.00 million for the quarter, compared to the consensus estimate of $876.30 million. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Worthington Steel, Inc. will post 2.79 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.61%.

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.