Key Points
- Worthington Steel COO Jeffrey Klingler sold 20,036 shares on June 2 at an average price of $43.82, totaling about $878,000. After the sale, he still held 93,212 shares, reducing his stake by 17.69%.
- The stock was down 3.7% and opened at $42.19, while still trading near the upper end of its 52-week range of $24.23 to $49.17. The company has a market cap of about $2.14 billion.
- Worthington Steel recently missed quarterly earnings expectations, posting $0.27 EPS versus the $0.47 estimate and revenue of $769.8 million versus the $882.95 million forecast. The company also declared a quarterly dividend of $0.16 per share, yielding about 1.5% annually.
Worthington Steel, Inc. (NYSE:WS - Get Free Report) CFO Timothy Adams sold 2,367 shares of Worthington Steel stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $42.27, for a total transaction of $100,053.09. Following the sale, the chief financial officer directly owned 44,098 shares of the company's stock, valued at $1,864,022.46. This represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Worthington Steel Stock Performance
Worthington Steel stock opened at $42.19 on Thursday. The company has a 50 day moving average price of $36.69 and a 200-day moving average price of $37.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 1.48. Worthington Steel, Inc. has a fifty-two week low of $24.23 and a fifty-two week high of $49.17. The company has a market capitalization of $2.14 billion, a PE ratio of 24.82 and a beta of 2.22.
Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings results on Thursday, March 26th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.20). Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The company had revenue of $769.80 million for the quarter, compared to the consensus estimate of $882.95 million. During the same period in the prior year, the firm posted $0.35 EPS. The business's revenue was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that Worthington Steel, Inc. will post 2.27 earnings per share for the current year.
Worthington Steel Announces Dividend
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 dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, June 12th. Worthington Steel's payout ratio is currently 37.65%.
Analyst Upgrades and Downgrades
WS has been the topic of several research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Steel in a report on Monday, April 20th. Wall Street Zen lowered shares of Worthington Steel from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Zacks Research raised shares of Worthington Steel from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. Finally, KeyCorp lifted their price objective on shares of Worthington Steel from $38.00 to $46.00 and gave the company an "overweight" rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $46.00.
Check Out Our Latest Stock Report on Worthington Steel
Hedge Funds Weigh In On Worthington Steel
Several institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. grew its holdings in shares of Worthington Steel by 56.4% during the fourth quarter. Hantz Financial Services Inc. now owns 910 shares of the company's stock valued at $32,000 after buying an additional 328 shares during the last quarter. MAI Capital Management grew its holdings in shares of Worthington Steel by 39.8% during the third quarter. MAI Capital Management now owns 1,404 shares of the company's stock valued at $43,000 after buying an additional 400 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Worthington Steel by 1.5% during the third quarter. Public Employees Retirement System of Ohio now owns 28,143 shares of the company's stock valued at $855,000 after buying an additional 406 shares during the last quarter. Cardinal Capital Management grew its holdings in shares of Worthington Steel by 2.2% during the fourth quarter. Cardinal Capital Management now owns 20,297 shares of the company's stock valued at $703,000 after buying an additional 443 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Worthington Steel by 2.8% during the third quarter. Illinois Municipal Retirement Fund now owns 19,055 shares of the company's stock valued at $579,000 after buying an additional 525 shares during the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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