Insider Selling: Worthington Steel (NYSE:WS) Insider Sells $740,494.70 in Stock

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 18,370 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $40.31, for a total transaction of $740,494.70. Following the completion of the sale, the insider directly owned 33,519 shares in the company, valued at approximately $1,351,150.89. This trade represents a 35.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Clifford Larivey also recently made the following trade(s):

• On Monday, October 19th, Clifford Larivey sold 7,168 shares of Worthington Steel stock. The shares were sold at an average price of $40.18, for a total transaction of $288,010.24.
• On Thursday, October 15th, Clifford Larivey sold 1,100 shares of Worthington Steel stock. The shares were sold at an average price of $40.04, for a total transaction of $44,044.00.
• On Tuesday, October 6th, Clifford Larivey sold 200 shares of Worthington Steel stock. The shares were sold at an average price of $40.00, for a total transaction of $8,000.00.

Worthington Steel Price Performance

NYSE WS opened at $40.90 on Thursday. Worthington Steel, Inc. has a 52 week low of $27.22 and a 52 week high of $49.17. The company has a current ratio of 1.81, a quick ratio of 1.00 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -67.05 and a beta of 2.24. The company has a 50-day moving average price of $36.01 and a two-hundred day moving average price of $36.91.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Wednesday, October 7th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.59). Worthington Steel had a negative net margin of 0.56% and a positive return on equity of 7.49%. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business posted $0.77 EPS. Worthington Steel’s revenue for the quarter was up 212.4% compared to the same quarter last year. Analysts forecast that Worthington Steel, Inc. will post 4.29 EPS for the current year.

Worthington Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Shareholders of record on Monday, December 14th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, December 14th. Worthington Steel’s payout ratio is -104.92%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WS. KeyCorp reissued an “overweight” rating on shares of Worthington Steel in a research note on Tuesday, October 6th. Wall Street Zen lowered Worthington Steel from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research cut shares of Worthington Steel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 17th. Finally, Weiss Ratings downgraded shares of Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Worthington Steel currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Institutional Trading of Worthington Steel

A number of institutional investors have recently made changes to their positions in WS. Rockefeller Capital Management L.P. increased its stake in shares of Worthington Steel by 1,239.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock valued at $26,000 after acquiring an additional 694 shares during the period. OP Asset Management Ltd acquired a new stake in Worthington Steel in the first quarter worth approximately $49,000. Public Employees Retirement System of Ohio acquired a new stake in Worthington Steel in the second quarter worth approximately $51,000. Security National Bank of SO Dak acquired a new stake in Worthington Steel in the second quarter worth approximately $111,000. Finally, Moran Wealth Management LLC acquired a new stake in Worthington Steel in the first quarter worth approximately $244,000. 45.41% of the stock is owned by institutional investors and hedge funds.

About Worthington Steel

Worthington Steel, Inc (NYSE: WS) is a steel processing company that produces value-added flat-rolled steel products for manufacturers and industrial customers. The company processes carbon steel, electrical steel and other specialty steel products, with offerings that include coated and treated steel, electrical steel laminations and tailor-welded blanks.

Its products are used in a range of applications, including automotive components, electrical equipment, motors and transformers, construction products, appliances, energy systems, agriculture and general industrial manufacturing.