Worthington Steel (NYSE:WS) Insider Sells $44,044.00 in Stock

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 1,100 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $40.04, for a total value of $44,044.00. Following the transaction, the insider owned 51,889 shares of the company’s stock, valued at approximately $2,077,635.56. The trade was a 2.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 value of $288,010.24.
• On Friday, October 16th, Clifford Larivey sold 18,370 shares of Worthington Steel stock. The shares were sold at an average price of $40.31, for a total value of $740,494.70.
• On Tuesday, October 6th, Clifford Larivey sold 200 shares of Worthington Steel stock. The stock was sold at an average price of $40.00, for a total value of $8,000.00.

Worthington Steel Stock Performance

WS stock opened at $40.90 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.81 and a debt-to-equity ratio of 1.02. The business’s fifty day simple moving average is $36.01 and its two-hundred day simple moving average is $36.91. Worthington Steel, Inc. has a twelve month low of $27.22 and a twelve month high of $49.17. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -67.05 and a beta of 2.24.

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

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, December 14th. Worthington Steel’s dividend payout ratio (DPR) is currently -104.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WS. Cardinal Capital Management raised its holdings in shares of Worthington Steel by 14.3% in the 3rd quarter. Cardinal Capital Management now owns 32,667 shares of the company’s stock valued at $1,151,000 after purchasing an additional 4,096 shares in the last quarter. Security National Bank of SO Dak purchased a new stake in shares of Worthington Steel in the 2nd quarter worth approximately $111,000. Public Employees Retirement System of Ohio bought a new position in shares of Worthington Steel during the second quarter valued at approximately $51,000. Bank of New York Mellon Corp bought a new position in shares of Worthington Steel during the second quarter valued at approximately $11,617,000. Finally, Empowered Funds LLC boosted its stake in shares of Worthington Steel by 13.6% during the first quarter. Empowered Funds LLC now owns 240,916 shares of the company’s stock valued at $7,312,000 after purchasing an additional 28,780 shares in the last quarter. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WS. Weiss Ratings cut shares of Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. KeyCorp restated an “overweight” rating on shares of Worthington Steel in a research note on Tuesday, October 6th. Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Zacks Research lowered shares of Worthington Steel from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 17th. One 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.00.

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.