Coldstream Capital Management Inc. Makes New Investment in Worthington Steel, Inc. (NYSE:WS)

Coldstream Capital Management Inc. purchased a new position in Worthington Steel, Inc. (NYSE:WS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,523 shares of the company’s stock, valued at approximately $605,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc purchased a new position in Worthington Steel during the 4th quarter worth approximately $28,000. Clean Yield Group purchased a new position in Worthington Steel during the 4th quarter worth approximately $34,000. Salem Investment Counselors Inc. purchased a new position in Worthington Steel during the 4th quarter worth approximately $76,000. Cambridge Trust Co. purchased a new position in Worthington Steel during the 4th quarter worth approximately $82,000. Finally, SG Americas Securities LLC purchased a new position in Worthington Steel during the 4th quarter worth approximately $101,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Stock Performance

Worthington Steel stock opened at $33.52 on Thursday. The firm’s fifty day moving average is $33.29. Worthington Steel, Inc. has a 12 month low of $21.00 and a 12 month high of $40.15.

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

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, June 14th.

Insider Activity

In related news, Director Carl A. Nelson, Jr. sold 12,000 shares of Worthington Steel stock in a transaction on Friday, April 26th. The shares were 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 approximately $2,643,658.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Seaport Res Ptn reiterated a “neutral” rating on shares of Worthington Steel in a research report on Monday, March 11th. KeyCorp lifted their price objective on shares of Worthington Steel from $39.00 to $40.00 and gave the stock an “overweight” rating in a research 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.