Worthington Steel (NYSE:WS) Insider Clifford Larivey Sells 1,100 Shares of Company Stock

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 1,100 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $40.04, for a total transaction of $44,044.00. Following the completion of the transaction, the insider owned 51,889 shares in the company, valued at $2,077,635.56. This trade represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Clifford Larivey also recently made the following trade(s):

• On Friday, October 16th, Clifford Larivey sold 18,370 shares of Worthington Steel stock. The shares were sold at an average price of $40.31, for a total transaction of $740,494.70.
• On Tuesday, October 6th, Clifford Larivey sold 200 shares of Worthington Steel stock. The stock was sold at an average price of $40.00, for a total transaction of $8,000.00.

Worthington Steel Trading Up 4.7%

NYSE WS traded up $1.88 during mid-day trading on Monday, reaching $41.56. 534,390 shares of the stock were exchanged, compared to its average volume of 308,741. Worthington Steel, Inc. has a one year low of $27.22 and a one year high of $49.17. The stock has a 50 day simple moving average of $35.81 and a 200-day simple moving average of $36.69. The stock has a market cap of $2.13 billion, a P/E ratio of -68.13 and a beta of 2.24. 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) last released its earnings results on Tuesday, October 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.59). The firm 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%. Worthington Steel’s quarterly revenue was up 212.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, analysts anticipate that Worthington Steel, Inc. will post 4.29 EPS for the current year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Shareholders of record on Monday, December 14th will be issued 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 is Monday, December 14th. Worthington Steel’s dividend payout ratio (DPR) is presently -104.92%.

Analyst Ratings Changes

WS has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Zacks Research cut Worthington Steel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 17th. KeyCorp reaffirmed an “overweight” rating on shares of Worthington Steel in a research note on Tuesday, October 6th. Finally, Wall Street Zen downgraded Worthington Steel from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Worthington Steel has a consensus rating of “Hold” and a consensus target price of $46.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its stake in Worthington Steel by 1,239.3% during 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. Strs Ohio increased its stake in Worthington Steel by 5.9% in the first quarter. Strs Ohio now owns 21,600 shares of the company’s stock valued at $656,000 after purchasing an additional 1,200 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Worthington Steel by 1.8% during the first quarter. Bank of America Corp DE now owns 85,083 shares of the company’s stock valued at $2,582,000 after purchasing an additional 1,501 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Worthington Steel during the second quarter valued at about $51,000. Finally, OP Asset Management Ltd bought a new position in shares of Worthington Steel during the 1st quarter worth about $49,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

About Worthington Steel

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.

The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.

Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.