Worthington Steel (NYSE:WS) Hits New 12-Month High – Should You Buy?

Worthington Steel, Inc. (NYSE:WS) hit a new 52-week high on Monday . The company traded as high as $48.06 and last traded at $46.9550, with a volume of 2270 shares. The stock had previously closed at $45.83.

Analyst Ratings Changes

WS has been the subject of a number of research reports. Zacks Research lowered shares of Worthington Steel from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd. Wall Street Zen raised Worthington Steel from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday, January 21st. Finally, KeyCorp lifted their price objective on Worthington Steel from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Worthington Steel currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Worthington Steel Stock Up 1.5%

The business has a fifty day moving average of $37.70 and a 200 day moving average of $33.81. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.46 billion, a P/E ratio of 27.24 and a beta of 1.68.

Worthington Steel (NYSE:WS) last posted its earnings results on Friday, December 19th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company had revenue of $871.90 million for the quarter, compared to analyst estimates of $797.25 million. Worthington Steel had a return on equity of 10.70% and a net margin of 3.83%.Worthington Steel’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, March 13th. Worthington Steel’s dividend payout ratio is 35.96%.

Insider Transactions at Worthington Steel

In other Worthington Steel news, Director Jon J. Bowsher bought 2,500 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average cost of $40.15 per share, with a total value of $100,375.00. Following the purchase, the director owned 17,893 shares in the company, valued at $718,403.95. This trade represents a 16.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott J. Kelly purchased 7,000 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was bought at an average cost of $39.11 per share, for a total transaction of $273,770.00. Following the purchase, the director owned 16,157 shares of the company’s stock, valued at approximately $631,900.27. This represents a 76.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Worthington Steel

A number of hedge funds and other institutional investors have recently made changes to their positions in WS. Johnson Investment Counsel Inc. acquired a new stake in shares of Worthington Steel in the second quarter valued at approximately $247,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Worthington Steel by 31.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,091 shares of the company’s stock worth $6,202,000 after buying an additional 49,121 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Worthington Steel by 76.9% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 170,995 shares of the company’s stock valued at $5,197,000 after acquiring an additional 74,349 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Worthington Steel by 49.7% in the 2nd quarter. American Century Companies Inc. now owns 403,032 shares of the company’s stock valued at $12,022,000 after acquiring an additional 133,872 shares in the last quarter. Finally, Midwest Trust Co acquired a new stake in shares of Worthington Steel in the second quarter valued at about $2,377,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

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.