Timothy Adams Sells 2,367 Shares of Worthington Steel (NYSE:WS) Stock

Worthington Steel, Inc. (NYSE:WS) CFO Timothy Adams sold 2,367 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $42.27, for a total value of $100,053.09. Following the completion of the transaction, the chief financial officer owned 44,098 shares of the company’s stock, valued at approximately $1,864,022.46. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Worthington Steel Stock Up 1.4%

NYSE WS opened at $42.77 on Friday. The stock has a market cap of $2.17 billion, a PE ratio of 25.16 and a beta of 2.22. Worthington Steel, Inc. has a fifty-two week low of $24.23 and a fifty-two week high of $49.17. The business has a 50 day moving average price of $36.86 and a two-hundred day moving average price of $37.49. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 0.03.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Thursday, March 26th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). The company had revenue of $769.80 million during the quarter, compared to analysts’ expectations of $882.95 million. Worthington Steel had a return on equity of 10.12% and a net margin of 3.64%.The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, sell-side analysts predict that Worthington Steel, Inc. will post 2.15 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, June 12th. Worthington Steel’s dividend payout ratio is currently 37.65%.

Hedge Funds Weigh In On Worthington Steel

Institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas boosted its stake in shares of Worthington Steel by 3.2% during the 4th quarter. Teacher Retirement System of Texas now owns 530,069 shares of the company’s stock valued at $18,351,000 after buying an additional 16,653 shares during the last quarter. American Century Companies Inc. lifted its stake in Worthington Steel by 51.3% during the third quarter. American Century Companies Inc. now owns 609,810 shares of the company’s stock worth $18,532,000 after purchasing an additional 206,778 shares during the last quarter. LSV Asset Management bought a new position in Worthington Steel during the third quarter worth $1,674,000. Keybank National Association OH bought a new position in Worthington Steel during the fourth quarter worth $7,163,000. Finally, Fisher Asset Management LLC lifted its stake in Worthington Steel by 24.3% during the fourth quarter. Fisher Asset Management LLC now owns 238,338 shares of the company’s stock worth $8,251,000 after purchasing an additional 46,665 shares during the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on WS. KeyCorp upped their price target on Worthington Steel from $38.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday. Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research note on Monday, April 20th. Finally, Zacks Research upgraded Worthington Steel from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Worthington Steel currently has a consensus rating of “Hold” and an average target price of $46.00.

About Worthington Steel

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.