Worthington Steel (NYSE:WS) Stock: Insider Clifford Larivey Sells 1,100 Shares

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 1,100 shares of Worthington Steel stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $40.04, for a total transaction of $44,044.00. Following the completion of the transaction, the insider owned 51,889 shares in the company, valued at $2,077,635.56. This trade represents a 2.08% decrease in their position. The sale was disclosed in a document filed 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 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 Stock Down 0.7%

WS stock opened at $41.37 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.81 and a quick ratio of 1.00. Worthington Steel, Inc. has a 52-week low of $27.22 and a 52-week high of $49.17. The company has a 50-day moving average of $35.95 and a two-hundred day moving average of $36.84. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -67.81 and a beta of 2.24.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Tuesday, October 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.59). The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $3.14 billion. Worthington Steel had a negative net margin of 0.56% and a positive return on equity of 7.49%. The company’s revenue for the quarter was up 212.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. As a group, equities research analysts anticipate that Worthington Steel, Inc. will post 4.29 EPS for the current year.

Worthington Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, December 14th. This represents a $0.64 annualized dividend and a yield of 1.5%. Worthington Steel’s dividend payout ratio is presently -104.92%.

Wall Street Analysts Forecast Growth

WS has been the topic of several recent analyst reports. Zacks Research downgraded Worthington Steel from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 17th. Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings cut Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Finally, KeyCorp restated an “overweight” rating on shares of Worthington Steel in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Worthington Steel has a consensus rating of “Hold” and an average target price of $46.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Security National Bank of SO Dak acquired a new stake in Worthington Steel during the second quarter worth about $111,000. Public Employees Retirement System of Ohio bought a new position in Worthington Steel during the second quarter valued at about $51,000. Bank of New York Mellon Corp bought a new position in Worthington Steel during the second quarter valued at about $11,617,000. Empowered Funds LLC raised its holdings in Worthington Steel by 13.6% in the 1st 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 in the last quarter. Finally, Bank of America Corp DE raised its holdings in Worthington Steel by 1.8% in the 1st quarter. Bank of America Corp DE now owns 85,083 shares of the company’s stock valued at $2,582,000 after acquiring an additional 1,501 shares in the last quarter. Institutional investors own 45.41% of the company’s stock.

About Worthington Steel

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.