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

Worthington Steel, Inc. (NYSE:WS) COO Jeffrey Klingler sold 20,036 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $43.82, for a total transaction of $877,977.52. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Worthington Steel Trading Down 3.7%

Shares of NYSE:WS opened at $42.19 on Thursday. The company has a 50 day moving average of $36.69 and a 200-day moving average of $37.41. The firm has a market cap of $2.14 billion, a P/E ratio of 24.82 and a beta of 2.22. Worthington Steel, Inc. has a twelve month low of $24.23 and a twelve 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.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results 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). The company had revenue of $769.80 million during the quarter, compared to analyst estimates of $882.95 million. Worthington Steel had a return on equity of 10.12% and a net margin of 3.64%.The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, analysts anticipate that Worthington Steel, Inc. will post 2.27 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders 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 dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, June 12th. Worthington Steel’s dividend payout ratio is currently 37.65%.

Institutional Trading of Worthington Steel

A number of hedge funds and other institutional investors have recently made changes to their positions in 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 worth $399,000 after purchasing an additional 2,038 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Worthington Steel by 89.4% in the 1st quarter. AQR Capital Management LLC now owns 50,634 shares of the company’s stock worth $1,269,000 after purchasing an additional 23,899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Worthington Steel by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock worth $490,000 after purchasing an additional 841 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Worthington Steel in the 2nd quarter worth approximately $670,000. Finally, First Trust Advisors LP raised its holdings in shares of Worthington Steel by 3.9% in the 2nd quarter. First Trust Advisors LP now owns 127,877 shares of the company’s stock worth $3,815,000 after purchasing an additional 4,756 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WS has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Zacks Research raised shares of Worthington Steel from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. KeyCorp upped their price target on shares of Worthington Steel from $38.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Worthington Steel has an average rating of “Hold” and an average target price of $46.00.

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.