VCI Wealth Management LLC Purchases 21,307 Shares of Worthington Steel, Inc. $WS

VCI Wealth Management LLC acquired a new stake in shares of Worthington Steel, Inc. (NYSE:WS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,307 shares of the company’s stock, valued at approximately $751,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its holdings in Worthington Steel by 1,239.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock worth $26,000 after acquiring an additional 694 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Worthington Steel in the 2nd quarter worth about $51,000. Security National Bank of SO Dak acquired a new stake in shares of Worthington Steel in the 2nd quarter valued at about $111,000. Moran Wealth Management LLC acquired a new stake in shares of Worthington Steel in the 1st quarter valued at about $244,000. Finally, State of Wyoming raised its stake in shares of Worthington Steel by 7.3% in the 3rd quarter. State of Wyoming now owns 8,202 shares of the company’s stock valued at $289,000 after purchasing an additional 559 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors.

Worthington Steel Stock Performance

Worthington Steel stock opened at $41.80 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.81 and a quick ratio of 1.00. Worthington Steel, Inc. has a 12 month low of $27.22 and a 12 month high of $49.17. The company has a fifty day moving average price of $36.84 and a two-hundred day moving average price of $37.67. The company has a market cap of $2.14 billion, a PE ratio of -68.53 and a beta of 2.24.

Worthington Steel (NYSE:WS) last issued its earnings results on Wednesday, October 7th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.59). Worthington Steel had a positive return on equity of 7.49% and a negative net margin of 0.56%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the company posted $0.77 earnings per share. The firm’s revenue for the quarter was up 212.4% on a year-over-year basis. Research analysts expect that Worthington Steel, Inc. will post 4.07 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Investors 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 dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, December 14th. Worthington Steel’s dividend payout ratio is currently -104.92%.

Insider Buying and Selling at Worthington Steel

In related news, insider Clifford Larivey sold 7,168 shares of the business’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $40.18, for a total transaction of $288,010.24. Following the completion of the sale, the insider owned 26,351 shares of the company’s stock, valued at $1,058,783.18. This represents a 21.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 26,838 shares of company stock worth $1,080,549. 2.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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