Jeffrey Klingler Sells 20,036 Shares of Worthington Steel (NYSE:WS) Stock

Worthington Steel, Inc. (NYSE:WS) COO Jeffrey Klingler sold 20,036 shares of Worthington Steel stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $43.82, for a total transaction of $877,977.52. Following the transaction, the chief operating officer directly owned 93,212 shares of the company’s stock, valued at approximately $4,084,549.84. This represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Worthington Steel Price Performance

WS stock opened at $42.77 on Friday. Worthington Steel, Inc. has a 12 month low of $24.23 and a 12 month high of $49.17. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $36.86 and a 200 day moving average price of $37.49. The stock has a market cap of $2.17 billion, a PE ratio of 25.16 and a beta of 2.22.

Worthington Steel (NYSE:WS) last announced 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). Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The company had revenue of $769.80 million for the quarter, compared to the consensus estimate of $882.95 million. During the same quarter in the previous year, the business earned $0.35 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Worthington Steel, Inc. will post 2.15 earnings per share for the current year.

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued 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 yield of 1.5%. Worthington Steel’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. KeyCorp lifted their price objective 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 lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Zacks Research upgraded shares of Worthington Steel from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Worthington Steel presently has an average rating of “Hold” and a consensus target price of $46.00.

Institutional Investors Weigh In On Worthington Steel

Several large investors have recently modified their holdings of WS. Royal Bank of Canada raised its holdings in shares of Worthington Steel by 14.8% in the 1st quarter. Royal Bank of Canada now owns 15,771 shares of the company’s stock valued at $399,000 after purchasing an additional 2,038 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Worthington Steel by 89.4% during the 1st quarter. AQR Capital Management LLC now owns 50,634 shares of the company’s stock worth $1,269,000 after acquiring an additional 23,899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Worthington Steel by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock worth $490,000 after acquiring an additional 841 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Worthington Steel during the 2nd quarter worth approximately $670,000. Finally, First Trust Advisors LP raised its stake in shares of Worthington Steel by 3.9% during the 2nd quarter. First Trust Advisors LP now owns 127,877 shares of the company’s stock worth $3,815,000 after acquiring an additional 4,756 shares in the last quarter. Institutional investors own 45.41% of the company’s stock.

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.