Worthington Steel (NYSE:WS) Insider Clifford Larivey Sells 11,105 Shares

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 11,105 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $40.09, for a total transaction of $445,199.45. Following the transaction, the insider owned 64,308 shares in the company, valued at $2,578,107.72. The trade was a 14.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Worthington Steel Stock Up 2.5%

Shares of NYSE WS opened at $42.32 on Thursday. Worthington Steel, Inc. has a one year low of $24.23 and a one year high of $49.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.48 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $35.62 and its two-hundred day simple moving average is $37.02. The stock has a market capitalization of $2.15 billion, a P/E ratio of 24.89 and a beta of 2.23.

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

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, June 12th. Worthington Steel’s payout ratio is 37.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WS. Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Zacks Research raised Worthington Steel from a “strong sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research note on Monday, April 20th. Finally, KeyCorp began coverage on Worthington Steel in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $46.00 price target on the stock. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Worthington Steel has an average rating of “Hold” and a consensus price target of $46.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its position in Worthington Steel by 1,239.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock valued at $26,000 after purchasing an additional 694 shares during the last quarter. Hantz Financial Services Inc. raised its position in Worthington Steel by 56.4% during the 4th quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock valued at $32,000 after purchasing an additional 328 shares during the last quarter. MAI Capital Management raised its position in Worthington Steel by 39.8% during the 3rd quarter. MAI Capital Management now owns 1,404 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares during the last quarter. Torren Management LLC bought a new position in Worthington Steel during the 4th quarter valued at approximately $48,000. Finally, OP Asset Management Ltd bought a new position in Worthington Steel during the 1st quarter valued at approximately $49,000. Institutional investors own 45.41% of the company’s stock.

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.