Worthington Steel, Inc. (NYSE:WS – Get Free Report) insider Clifford Larivey sold 11,105 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $40.09, for a total transaction of $445,199.45. Following the transaction, the insider directly owned 64,308 shares of the company’s stock, valued at $2,578,107.72. This represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Worthington Steel Price Performance
Shares of WS opened at $42.11 on Friday. The stock has a market capitalization of $2.14 billion, a P/E ratio of 24.77 and a beta of 2.23. Worthington Steel, Inc. has a twelve month low of $24.23 and a twelve month high of $49.17. The company has a 50 day moving average of $36.02 and a 200-day moving average of $37.13. 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 – Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.20). Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The company had revenue of $769.80 million during the quarter, compared to analyst estimates of $882.95 million. During the same period in the previous year, the company posted $0.35 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts forecast that Worthington Steel, Inc. will post 2.27 EPS for the current fiscal year.
Worthington Steel Announces Dividend
Institutional Investors Weigh In On Worthington Steel
A number of hedge funds and other institutional investors have recently modified their holdings of WS. Alliancebernstein L.P. lifted its holdings in shares of Worthington Steel by 695.6% during the third quarter. Alliancebernstein L.P. now owns 969,887 shares of the company’s stock worth $29,475,000 after buying an additional 847,981 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Worthington Steel by 563.7% during the fourth quarter. LSV Asset Management now owns 365,672 shares of the company’s stock worth $12,660,000 after buying an additional 310,572 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Worthington Steel by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 4,287,641 shares of the company’s stock worth $148,438,000 after buying an additional 217,090 shares in the last quarter. Keybank National Association OH acquired a new stake in shares of Worthington Steel during the fourth quarter worth $7,163,000. Finally, American Century Companies Inc. lifted its holdings in shares of 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 buying an additional 206,778 shares in the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. KeyCorp assumed coverage on Worthington Steel in a report on Wednesday, March 25th. They set an “overweight” rating and a $46.00 price target for the company. Wall Street Zen downgraded Worthington Steel from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a report on Monday, April 20th. Finally, Zacks Research raised Worthington Steel from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Worthington Steel presently has a consensus rating of “Hold” and an average price target of $46.00.
View Our Latest Research Report on WS
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.
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