Worthington Steel (NYSE:WS) CFO Timothy Adams Sells 2,367 Shares

Worthington Steel, Inc. (NYSE:WS) CFO Timothy Adams sold 2,367 shares of the 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Worthington Steel Trading Down 3.7%

Shares of Worthington Steel stock opened at $42.19 on Thursday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 24.82 and a beta of 2.22. The business has a 50-day moving average price of $36.69 and a 200-day moving average price of $37.41. 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, Inc. has a twelve month low of $24.23 and a twelve month high of $49.17.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Thursday, March 26th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). The firm had revenue of $769.80 million for the quarter, compared to analysts’ expectations of $882.95 million. Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. Equities research analysts anticipate that Worthington Steel, Inc. will post 2.27 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

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

Institutional Trading of Worthington Steel

Institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its stake 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 purchasing an additional 694 shares during the last quarter. Hantz Financial Services Inc. lifted its stake 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 purchasing an additional 328 shares during the last quarter. MAI Capital Management lifted its stake 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 purchasing an additional 400 shares during the last quarter. Torren Management LLC bought a new stake in Worthington Steel in the fourth quarter worth about $48,000. Finally, OP Asset Management Ltd purchased a new position in shares of Worthington Steel during the first quarter worth approximately $49,000. Institutional investors own 45.41% of the company’s stock.

Analyst Upgrades and Downgrades

WS has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a research report on Monday, April 20th. KeyCorp increased their price target on shares of Worthington Steel from $38.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday. Wall Street Zen downgraded shares of Worthington Steel from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Zacks Research raised shares of Worthington Steel from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Worthington Steel currently has a consensus rating of “Hold” and an average price target of $46.00.

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.