Key Points
- Insider sale: Worthington Steel insider Clifford Larivey sold 11,105 shares for about $445,199 at an average price of $40.09, reducing his ownership by 14.73%.
- Recent earnings missed expectations: The company reported Q1 EPS of $0.27 versus a $0.47 estimate and revenue of $769.8 million versus $882.95 million expected, even though revenue rose 12% year over year.
- Dividend and analyst outlook: Worthington Steel declared a quarterly dividend of $0.16 per share (1.5% yield), while analysts currently rate the stock a consensus Hold with a $46 price target.
Worthington Steel, Inc. (NYSE:WS - Get Free Report) insider Clifford Larivey sold 11,105 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $40.09, for a total transaction of $445,199.45. Following the completion of the sale, the insider owned 64,308 shares of the company's stock, valued at $2,578,107.72. This trade represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Worthington Steel Stock Performance
Shares of WS opened at $42.32 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.48 and a quick ratio of 0.90. Worthington Steel, Inc. has a one year low of $24.23 and a one year high of $49.17. The company has a 50-day simple moving average of $35.62 and a two-hundred day simple moving average of $37.02. The firm has a market capitalization of $2.15 billion, a PE ratio of 24.89 and a beta of 2.23.
Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings data on Thursday, March 26th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.20). Worthington Steel had a return on equity of 10.12% and a net margin of 3.64%.The company had revenue of $769.80 million during the quarter, compared to analysts' expectations of $882.95 million. During the same quarter last year, the business earned $0.35 earnings per share. The business's quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts anticipate that Worthington Steel, Inc. will post 2.27 EPS for the current fiscal year.
Worthington Steel Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.16 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.64 annualized dividend and a yield of 1.5%. Worthington Steel's dividend payout ratio (DPR) is 37.65%.
Institutional Investors Weigh In On Worthington Steel
Several hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in Worthington Steel by 1.8% during the first quarter. Bank of America Corp DE now owns 85,083 shares of the company's stock worth $2,582,000 after acquiring an additional 1,501 shares in the last quarter. Empowered Funds LLC boosted its stake in Worthington Steel by 13.6% during the first quarter. Empowered Funds LLC now owns 240,916 shares of the company's stock worth $7,312,000 after acquiring an additional 28,780 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Worthington Steel by 16.0% during the first quarter. Quantinno Capital Management LP now owns 14,159 shares of the company's stock worth $430,000 after acquiring an additional 1,948 shares in the last quarter. Weiss Asset Management LP boosted its stake in Worthington Steel by 50.2% during the first quarter. Weiss Asset Management LP now owns 36,300 shares of the company's stock worth $1,102,000 after acquiring an additional 12,126 shares in the last quarter. Finally, Windsor Advisory Group LLC boosted its stake in Worthington Steel by 32.9% during the first quarter. Windsor Advisory Group LLC now owns 275,885 shares of the company's stock worth $8,373,000 after acquiring an additional 68,330 shares in the last quarter. Institutional investors own 45.41% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on WS. KeyCorp began coverage on shares of Worthington Steel in a report on Wednesday, March 25th. They issued an "overweight" rating and a $46.00 price objective for the company. Wall Street Zen lowered shares of Worthington Steel from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Steel in a research note on Monday, April 20th. Finally, Zacks Research raised shares of Worthington Steel from a "strong sell" rating to a "hold" rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $46.00.
View Our Latest Stock Analysis on Worthington Steel
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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