Worthington Steel (NYSE:WS) Shares Up 5.4% – Time to Buy?

Worthington Steel, Inc. (NYSE:WS)’s stock price was up 5.4% during mid-day trading on Thursday . The company traded as high as $36.60 and last traded at $36.57. 132,148 shares were traded during trading, a decline of 54% from the average session volume of 286,577 shares. The stock had previously closed at $34.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp reiterated an “overweight” rating on shares of Worthington Steel in a research report on Monday, June 29th. Weiss Ratings cut shares of Worthington Steel from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Zacks Research cut shares of Worthington Steel from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 17th. Finally, Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Worthington Steel presently has a consensus rating of “Hold” and a consensus price target of $46.00.

Worthington Steel Price Performance

The firm has a fifty day moving average price of $35.53 and a two-hundred day moving average price of $36.16. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.83 billion, a P/E ratio of 25.88 and a beta of 2.27.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Thursday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Worthington Steel had a net margin of 0.50% and a return on equity of 8.87%. The business had revenue of $929.20 million during the quarter, compared to analyst estimates of $992.00 million. During the same period last year, the business earned $1.05 EPS. Worthington Steel’s revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that Worthington Steel, Inc. will post 3.39 EPS for the current year.

Institutional Investors Weigh In On Worthington Steel

Several large investors have recently bought and sold shares of WS. Rockefeller Capital Management L.P. raised its position in Worthington Steel by 1,239.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock worth $26,000 after buying an additional 694 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of 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 acquiring an additional 328 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Worthington Steel in the second quarter worth approximately $51,000. OP Asset Management Ltd purchased a new stake in Worthington Steel in the first quarter worth approximately $49,000. Finally, Security National Bank of SO Dak bought a new stake in Worthington Steel in the 2nd quarter worth approximately $111,000. 45.41% of the stock is currently owned by institutional investors.

About Worthington Steel

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers and industrial customers. Its operations include steel slitting, cold rolling, coating, electrical steel processing and other specialized treatments designed to meet customers’ product and performance requirements.

The company supplies products and services to a range of end markets, including automotive, electrical infrastructure, construction, energy, industrial equipment and consumer products.