Cardinal Capital Management Buys Shares of 12,246 Worthington Steel, Inc. (NYSE:WS)

Cardinal Capital Management acquired a new stake in Worthington Steel, Inc. (NYSE:WS) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,246 shares of the company’s stock, valued at approximately $439,000.

Several other large investors have also recently modified their holdings of the business. Key Financial Inc bought a new stake in Worthington Steel in the fourth quarter worth approximately $28,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Worthington Steel in the fourth quarter worth $30,000. Clean Yield Group bought a new stake in Worthington Steel in the fourth quarter valued at $34,000. TFO Wealth Partners LLC acquired a new position in shares of Worthington Steel during the fourth quarter valued at about $50,000. Finally, Salem Investment Counselors Inc. bought a new position in shares of Worthington Steel during the 4th quarter worth about $76,000. Institutional investors own 45.41% of the company’s stock.

Insider Activity at Worthington Steel

In other news, Director Carl A. Nelson, Jr. sold 12,000 shares of the stock in a transaction dated 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 in the company, valued at $2,643,658.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Worthington Steel in a research note on Monday, March 11th. KeyCorp upped their target price on Worthington Steel from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd.

Worthington Steel Price Performance

NYSE:WS opened at $32.68 on Friday. Worthington Steel, Inc. has a one year low of $21.00 and a one year high of $40.15. The firm has a 50-day moving average of $32.11 and a 200-day moving average of $31.27.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.67 by $0.39. The company had revenue of $911.00 million during the quarter, compared to analysts’ expectations of $876.30 million. Worthington Steel’s revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts expect that Worthington Steel, Inc. will post 2.79 EPS for the current year.

Worthington Steel Profile

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.