Worthington Steel (NYSE:WS) Insider Sells $445,199.45 in Stock

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 11,105 shares of Worthington Steel stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $40.09, for a total transaction of $445,199.45. Following the completion of the sale, the insider owned 64,308 shares in the company, valued at $2,578,107.72. This trade represents a 14.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Worthington Steel Stock Up 2.5%

Shares of NYSE WS traded up $1.04 during midday trading on Wednesday, reaching $42.32. The company’s stock had a trading volume of 176,999 shares, compared to its average volume of 287,040. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. Worthington Steel, Inc. has a fifty-two week low of $24.23 and a fifty-two week high of $49.17. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 24.89 and a beta of 2.23. The stock has a 50 day simple moving average of $35.42 and a 200-day simple moving average of $36.95.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data on Thursday, March 26th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The business had revenue of $769.80 million during the quarter, compared to analyst estimates of $882.95 million. During the same quarter last year, the business earned $0.35 earnings per share. Worthington Steel’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts predict that Worthington Steel, Inc. will post 2.27 earnings per share for the current year.

Worthington Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Worthington Steel’s dividend payout ratio (DPR) is currently 37.65%.

Analysts Set New Price Targets

Several research firms recently weighed in on WS. Zacks Research raised shares of Worthington Steel from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen cut shares of Worthington Steel from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. KeyCorp began coverage on shares of Worthington Steel in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $46.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Worthington Steel has an average rating of “Hold” and a consensus target price of $46.00.

Institutional Investors Weigh In On Worthington Steel

Institutional investors and hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its position in Worthington Steel by 1,239.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock worth $26,000 after purchasing an additional 694 shares during the period. Hantz Financial Services Inc. lifted its position in Worthington Steel by 56.4% during the fourth quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock worth $32,000 after purchasing an additional 328 shares during the period. Torren Management LLC bought a new stake in Worthington Steel during the fourth quarter worth about $48,000. MAI Capital Management lifted its position in Worthington Steel by 39.8% during the third quarter. MAI Capital Management now owns 1,404 shares of the company’s stock worth $43,000 after purchasing an additional 400 shares during the period. Finally, OP Asset Management Ltd bought a new stake in Worthington Steel during the first quarter worth about $49,000. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Company Profile

Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.