Worthington Steel (NYSE:WS) Insider Sells $288,010.24 in Stock

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 7,168 shares of the stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $40.18, for a total transaction of $288,010.24. Following the sale, the insider directly owned 26,351 shares of the company’s stock, valued at approximately $1,058,783.18. This represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, October 16th, Clifford Larivey sold 18,370 shares of Worthington Steel stock. The stock was sold at an average price of $40.31, for a total transaction of $740,494.70.
• On Thursday, October 15th, Clifford Larivey sold 1,100 shares of Worthington Steel stock. The stock was sold at an average price of $40.04, for a total transaction of $44,044.00.
• 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 0.8%

Worthington Steel stock opened at $40.79 on Friday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -66.86 and a beta of 2.24. Worthington Steel, Inc. has a 1 year low of $27.22 and a 1 year high of $49.17. The firm’s 50 day moving average price is $36.11 and its two-hundred day moving average price is $37.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.00 and a current ratio of 1.81.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Wednesday, October 7th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.59). Worthington Steel had a negative net margin of 0.56% and a positive return on equity of 7.49%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the company posted $0.77 EPS. Worthington Steel’s revenue was up 212.4% on a year-over-year basis. On average, research analysts predict that Worthington Steel, Inc. will post 4.29 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, December 14th. Worthington Steel’s dividend payout ratio is -104.92%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Worthington Steel by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,520,318 shares of the company’s stock valued at $76,485,000 after purchasing an additional 68,775 shares during the period. Bank of New York Mellon Corp acquired a new stake in Worthington Steel in the 2nd quarter valued at $11,617,000. Windsor Advisory Group LLC boosted its stake in Worthington Steel by 32.9% in the 1st quarter. Windsor Advisory Group LLC now owns 275,885 shares of the company’s stock valued at $8,373,000 after buying an additional 68,330 shares in the last quarter. Empowered Funds LLC grew its position in Worthington Steel by 13.6% in the first quarter. Empowered Funds LLC now owns 240,916 shares of the company’s stock valued at $7,312,000 after acquiring an additional 28,780 shares during the period. Finally, Principal Financial Group Inc. grew its position in Worthington Steel by 29.9% in the first quarter. Principal Financial Group Inc. now owns 201,425 shares of the company’s stock valued at $6,113,000 after acquiring an additional 46,358 shares during the period. Institutional investors and hedge funds own 45.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Zacks Research lowered Worthington Steel from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 17th. Weiss Ratings lowered Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. KeyCorp reaffirmed an “overweight” rating on shares of Worthington Steel in a research note on Tuesday, October 6th. Finally, Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.00.

Worthington Steel Company Profile

Worthington Steel, Inc (NYSE: WS) is a steel processing company that produces value-added flat-rolled steel products for manufacturers and industrial customers. The company processes carbon steel, electrical steel and other specialty steel products, with offerings that include coated and treated steel, electrical steel laminations and tailor-welded blanks.

Its products are used in a range of applications, including automotive components, electrical equipment, motors and transformers, construction products, appliances, energy systems, agriculture and general industrial manufacturing.