Windsor Advisory Group LLC Increases Position in Worthington Steel, Inc. $WS

Windsor Advisory Group LLC raised its stake in shares of Worthington Steel, Inc. (NYSE:WS) by 32.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 275,885 shares of the company’s stock after purchasing an additional 68,330 shares during the period. Worthington Steel makes up approximately 7.0% of Windsor Advisory Group LLC’s portfolio, making the stock its 4th biggest holding. Windsor Advisory Group LLC’s holdings in Worthington Steel were worth $8,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its stake in shares of 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. boosted its position in shares of Worthington Steel by 56.4% during the fourth quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock valued at $32,000 after buying an additional 328 shares during the last quarter. Torren Management LLC purchased a new position in shares of Worthington Steel during the fourth quarter valued at approximately $48,000. OP Asset Management Ltd bought a new stake in Worthington Steel during the first quarter worth $49,000. Finally, Kestra Advisory Services LLC bought a new stake in Worthington Steel during the fourth quarter worth $67,000. 45.41% of the stock is owned by institutional investors.

Insider Transactions at Worthington Steel

In related news, COO Jeffrey R. Klingler sold 20,036 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $43.82, for a total value 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. The trade was a 17.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy A. Adams sold 2,367 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $42.27, for a total transaction of $100,053.09. Following the completion of the transaction, the chief financial officer directly owned 44,098 shares in the company, valued at $1,864,022.46. This trade represents a 5.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,708 shares of company stock worth $1,431,830 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

WS has been the topic of several recent analyst reports. KeyCorp restated an “overweight” rating on shares of Worthington Steel in a research note on Monday, June 29th. Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research upgraded shares of Worthington Steel from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $46.00.

Worthington Steel Stock Performance

Shares of WS opened at $35.93 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.92 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 25.85 and a beta of 2.34. The stock has a 50 day moving average of $38.04 and a 200 day moving average of $38.01. Worthington Steel, Inc. has a 12 month low of $27.22 and a 12 month high of $49.17.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Thursday, June 25th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Worthington Steel had a return on equity of 8.85% and a net margin of 0.50%.The business had revenue of $929.20 million for the quarter, compared to analyst estimates of $992.00 million. During the same period last year, the company posted $1.05 earnings per share. Worthington Steel’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Worthington Steel, Inc. will post 3.39 earnings per share for the current year.

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.64 annualized dividend and a dividend yield of 1.8%. Worthington Steel’s dividend payout ratio (DPR) is currently 46.04%.

About Worthington Steel

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.