Key Points
- Insider selling: Clifford Larivey sold 1,100 Worthington Steel shares for $44,044, reducing his direct ownership by 2.08%. He also recently sold an additional 18,570 shares in two transactions.
- Mixed financial performance: Worthington Steel reported quarterly EPS of $0.57, well below the $1.16 analyst consensus, while revenue rose 212.4% year over year to $2.73 billion but missed estimates.
- Stock and outlook: Shares opened at $41.56, up 4.7%, while the company declared a $0.16 quarterly dividend. Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $46.
Worthington Steel, Inc. (NYSE:WS - Get Free Report) insider Clifford Larivey sold 1,100 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $40.04, for a total value of $44,044.00. Following the sale, the insider directly owned 51,889 shares of the company's stock, valued at approximately $2,077,635.56. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
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 shares were sold at an average price of $40.00, for a total transaction of $8,000.00.
Worthington Steel Stock Up 4.7%
Worthington Steel stock opened at $41.56 on Tuesday. The stock has a market capitalization of $2.13 billion, a PE ratio of -68.13 and a beta of 2.24. Worthington Steel, Inc. has a twelve month low of $27.22 and a twelve month high of $49.17. The company has a quick ratio of 1.00, a current ratio of 1.81 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average of $35.88 and a 200-day moving average of $36.77.
Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings data on Tuesday, October 6th. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.59). Worthington Steel had a positive return on equity of 7.49% and a negative net margin of 0.56%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The company's revenue was up 212.4% on a year-over-year basis. On average, equities research analysts anticipate that Worthington Steel, Inc. will post 4.29 EPS for the current fiscal year.
Worthington Steel Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, December 14th. Worthington Steel's dividend payout ratio is presently -104.92%.
Analyst Ratings Changes
WS has been the subject of a number of recent analyst reports. KeyCorp reiterated an "overweight" rating on shares of Worthington Steel in a research note on Tuesday, October 6th. Zacks Research cut shares of Worthington Steel from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 17th. Weiss Ratings downgraded shares of Worthington Steel from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 14th. Finally, Wall Street Zen cut Worthington Steel from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Worthington Steel presently has an average rating of "Hold" and an average target price of $46.00.
Read Our Latest Stock Report on Worthington Steel
Institutional Trading of Worthington Steel
A number of institutional investors have recently bought and sold shares of WS. Dimensional Fund Advisors LP increased its holdings in shares of Worthington Steel by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,520,318 shares of the company's stock worth $76,485,000 after purchasing an additional 68,775 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Worthington Steel in the second quarter valued at approximately $11,617,000. Windsor Advisory Group LLC raised its position in shares of Worthington Steel by 32.9% in the first quarter. Windsor Advisory Group LLC now owns 275,885 shares of the company's stock valued at $8,373,000 after buying an additional 68,330 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Worthington Steel by 13.6% in the first quarter. Empowered Funds LLC now owns 240,916 shares of the company's stock valued at $7,312,000 after buying an additional 28,780 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Worthington Steel by 29.9% in the first quarter. Principal Financial Group Inc. now owns 201,425 shares of the company's stock valued at $6,113,000 after buying an additional 46,358 shares during the period. Institutional investors own 45.41% of the company's stock.
Worthington Steel Company Profile
(
Get Free Report)
Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.
The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.
Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.
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