Worthington Steel (NYSE:WS) CFO Sells $100,053.09 in Stock

Worthington Steel, Inc. (NYSE:WSGet Free Report) CFO Timothy Adams sold 2,367 shares of Worthington Steel stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $42.27, for a total transaction of $100,053.09. Following the completion of the transaction, the chief financial officer directly owned 44,098 shares of the company’s stock, valued at $1,864,022.46. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Worthington Steel Trading Down 3.0%

NYSE WS opened at $41.52 on Friday. Worthington Steel, Inc. has a one year low of $24.23 and a one year high of $49.17. The company has a 50-day simple moving average of $36.99 and a 200-day simple moving average of $37.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 1.48. The firm has a market capitalization of $2.11 billion, a PE ratio of 24.42 and a beta of 2.22.

Worthington Steel (NYSE:WSGet Free Report) last posted its quarterly earnings results on Thursday, March 26th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.20). The business had revenue of $769.80 million during the quarter, compared to analyst estimates of $882.95 million. Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. On average, equities analysts forecast that Worthington Steel, Inc. will post 2.15 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, June 12th. Worthington Steel’s payout ratio is presently 37.65%.

Institutional Trading of Worthington Steel

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its position in Worthington Steel by 1,239.3% in the fourth 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. Hantz Financial Services Inc. grew its position in Worthington Steel by 56.4% in the fourth quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock worth $32,000 after acquiring an additional 328 shares in the last quarter. MAI Capital Management grew its position in Worthington Steel by 39.8% in the third quarter. MAI Capital Management now owns 1,404 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares in the last quarter. Torren Management LLC bought a new stake in Worthington Steel in the fourth quarter worth approximately $48,000. Finally, OP Asset Management Ltd acquired a new stake in shares of Worthington Steel in the first quarter worth $49,000. 45.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on WS. KeyCorp boosted their price target on shares of Worthington Steel from $38.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday. Zacks Research upgraded shares of Worthington Steel from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Worthington Steel presently has an average rating of “Hold” and an average target price of $46.00.

Read Our Latest Analysis on Worthington Steel

Worthington Steel Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Worthington Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Steel and related companies with MarketBeat.com's FREE daily email newsletter.