Allspring Global Investments Holdings LLC Makes New Investment in Worthington Steel, Inc. (NYSE:WS)

Allspring Global Investments Holdings LLC bought a new position in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 101,338 shares of the company's stock, valued at approximately $2,848,000. Allspring Global Investments Holdings LLC owned 0.20% of Worthington Steel at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Clean Yield Group acquired a new stake in Worthington Steel in the fourth quarter valued at approximately $34,000. Salem Investment Counselors Inc. acquired a new stake in Worthington Steel in the fourth quarter valued at approximately $76,000. SG Americas Securities LLC acquired a new stake in Worthington Steel in the fourth quarter valued at approximately $101,000. AlphaMark Advisors LLC acquired a new stake in Worthington Steel in the fourth quarter valued at approximately $114,000. Finally, Arizona State Retirement System acquired a new stake in Worthington Steel in the fourth quarter valued at approximately $255,000. Institutional investors and hedge funds own 45.41% of the company's stock.

Analyst Upgrades and Downgrades

WS has been the topic of several analyst reports. KeyCorp lifted their target price on Worthington Steel from $39.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, April 3rd. Seaport Res Ptn reaffirmed a "neutral" rating on shares of Worthington Steel in a research report on Monday, March 11th.

Worthington Steel Stock Up 0.6 %

Shares of NYSE:WS traded up $0.19 during mid-day trading on Friday, hitting $32.90. 194,286 shares of the company traded hands, compared to its average volume of 234,669. Worthington Steel, Inc. has a 12-month low of $21.00 and a 12-month high of $40.15. The firm's 50-day moving average price is $32.59.

Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The company reported $0.99 EPS for the quarter, topping 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. The company's quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Worthington Steel, Inc. will post 2.92 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.16 per share. 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 1.95%.

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.