Key Points
- Director Scott Kelly purchased 7,000 shares on Jan. 27 at an average price of $39.11, spending $273,770 and increasing his ownership to 16,157 shares (a 76.44% boost).
- Worthington announced a quarterly dividend of $0.16 per share (ex-dividend March 13, payable March 27), equal to a $0.64 annualized payout and roughly a 1.6% yield.
- Recent results and analyst outlook: The company reported $0.38 EPS (missing by $0.01) with revenue up 18% y/y to $871.9M; analysts have mixed ratings and an average target price of $39.00.
Worthington Steel, Inc. (NYSE:WS - Get Free Report) Director Scott Kelly purchased 7,000 shares of the firm's stock in a transaction on Tuesday, January 27th. The shares were purchased at an average cost of $39.11 per share, for a total transaction of $273,770.00. Following the completion of the purchase, the director directly owned 16,157 shares in the company, valued at $631,900.27. The trade was a 76.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Worthington Steel Stock Performance
NYSE:WS opened at $40.10 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.09. The firm has a market cap of $2.04 billion, a PE ratio of 22.53 and a beta of 1.69. The firm has a 50 day simple moving average of $36.35 and a 200-day simple moving average of $33.26. Worthington Steel, Inc. has a 1-year low of $21.30 and a 1-year high of $44.00.
Worthington Steel (NYSE:WS - Get Free Report) last released its earnings results on Friday, December 19th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $871.90 million during the quarter, compared to analysts' expectations of $797.25 million. Worthington Steel had a return on equity of 10.70% and a net margin of 3.83%.The firm's revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current year.
Worthington Steel Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, March 13th. This represents a $0.64 annualized dividend and a yield of 1.6%. Worthington Steel's dividend payout ratio is 35.96%.
Analysts Set New Price Targets
WS has been the subject of a number of research analyst reports. KeyCorp upped their price objective on shares of Worthington Steel from $36.00 to $39.00 and gave the company an "overweight" rating in a research note on Tuesday, December 16th. Wall Street Zen raised shares of Worthington Steel from a "hold" rating to a "buy" rating in a research report on Saturday, October 18th. Zacks Research lowered shares of Worthington Steel from a "hold" rating to a "strong sell" rating in a report on Monday, December 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Worthington Steel in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Worthington Steel presently has an average rating of "Hold" and an average target price of $39.00.
View Our Latest Analysis on WS
Hedge Funds Weigh In On Worthington Steel
Hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC purchased a new stake in Worthington Steel during the 2nd quarter worth $25,000. AlphaQuest LLC acquired a new position in shares of Worthington Steel during the second quarter worth about $34,000. GAMMA Investing LLC lifted its stake in shares of Worthington Steel by 57.1% during the second quarter. GAMMA Investing LLC now owns 1,219 shares of the company's stock worth $36,000 after purchasing an additional 443 shares in the last quarter. MAI Capital Management boosted its position in shares of Worthington Steel by 39.8% in the third quarter. MAI Capital Management now owns 1,404 shares of the company's stock worth $43,000 after buying an additional 400 shares during the period. Finally, Caldwell Trust Co acquired a new stake in shares of Worthington Steel in the second quarter valued at about $52,000. Hedge funds and other institutional investors own 45.41% of the company's stock.
Worthington Steel Company Profile
(
Get Free Report)
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.
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