VCI Wealth Management LLC acquired a new position in shares of Worthington Steel, Inc. (NYSE:WS – Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 21,307 shares of the company’s stock, valued at approximately $751,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Worthington Steel by 29.9% in the first quarter. Principal Financial Group Inc. now owns 201,425 shares of the company’s stock worth $6,113,000 after buying an additional 46,358 shares during the period. Windsor Advisory Group LLC boosted its holdings in shares of Worthington Steel by 32.9% during the first quarter. Windsor Advisory Group LLC now owns 275,885 shares of the company’s stock valued at $8,373,000 after acquiring an additional 68,330 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Worthington Steel during the second quarter valued at $11,617,000. Sei Investments Co. boosted its holdings in shares of Worthington Steel by 127.8% during the first quarter. Sei Investments Co. now owns 71,474 shares of the company’s stock valued at $2,169,000 after acquiring an additional 40,097 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Worthington Steel by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,520,318 shares of the company’s stock valued at $76,485,000 after acquiring an additional 68,775 shares during the period. 45.41% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently commented on WS. Weiss Ratings lowered shares of Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Zacks Research downgraded shares of Worthington Steel from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 17th. Wall Street Zen downgraded shares of Worthington Steel from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, KeyCorp reissued an “overweight” rating on shares of Worthington Steel in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.00.
Check Out Our Latest Report on Worthington Steel
Insider Activity
In other news, insider Clifford Larivey sold 18,370 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $40.31, for a total value of $740,494.70. Following the completion of the transaction, the insider owned 33,519 shares of the company’s stock, valued at approximately $1,351,150.89. This represents a 35.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 26,838 shares of company stock valued at $1,080,549 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.
Worthington Steel Stock Performance
Shares of WS stock opened at $41.80 on Tuesday. Worthington Steel, Inc. has a 12-month low of $27.22 and a 12-month high of $49.17. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -68.53 and a beta of 2.24. The business has a 50 day simple moving average of $36.84 and a 200 day simple moving average of $37.67. 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 (NYSE:WS – Get Free Report) last posted its 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). The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $3.14 billion. Worthington Steel had a negative net margin of 0.56% and a positive return on equity of 7.49%. The firm’s revenue was up 212.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, equities research analysts anticipate that Worthington Steel, Inc. will post 4.07 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. Stockholders of record on Monday, December 14th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 14th. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Worthington Steel’s dividend payout ratio is presently -104.92%.
Worthington Steel Profile
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.
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