Key Points
- Insider selling: Clifford Larivey sold 7,168 Worthington Steel shares for $288,010 at an average price of $40.18, reducing his direct stake by 21.38% to 26,351 shares. He also sold more than 19,000 shares in several transactions earlier in October.
- Weak quarterly results: Worthington Steel reported quarterly EPS of $0.57, missing the $1.16 consensus estimate, while revenue of $2.73 billion came in below the $3.14 billion forecast despite rising 212.4% year over year.
- Mixed investor outlook: Analysts have a consensus “Hold” rating and a $46 target price, while the company announced a $0.16 quarterly dividend, or $0.64 annualized, yielding approximately 1.6%.
Worthington Steel, Inc. (NYSE:WS - Get Free Report) insider Clifford Larivey sold 7,168 shares of the business's stock in a transaction on Monday, October 19th. The stock was sold at an average price of $40.18, for a total transaction of $288,010.24. Following the sale, the insider directly owned 26,351 shares in the company, valued at approximately $1,058,783.18. The trade was a 21.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
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 Thursday, October 15th, Clifford Larivey sold 1,100 shares of Worthington Steel stock. The shares were sold at an average price of $40.04, for a total value of $44,044.00.
- 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 value of $8,000.00.
Worthington Steel Trading Down 0.8%
NYSE WS opened at $40.90 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.81 and a debt-to-equity ratio of 1.02. Worthington Steel, Inc. has a twelve month low of $27.22 and a twelve month high of $49.17. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -67.05 and a beta of 2.24. The business's fifty day moving average is $36.01 and its 200 day moving average is $36.91.
Worthington Steel (NYSE:WS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 7th. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.59). The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $3.14 billion. Worthington Steel had a positive return on equity of 7.49% and a negative net margin of 0.56%. The company's revenue was up 212.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, sell-side analysts expect that Worthington Steel, Inc. will post 4.29 EPS for the current fiscal year.
Worthington Steel Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Shareholders of record on Monday, December 14th will be given a $0.16 dividend. The ex-dividend date is Monday, December 14th. This represents a $0.64 annualized dividend and a yield of 1.6%. Worthington Steel's dividend payout ratio (DPR) is currently -104.92%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Wall Street Zen cut Worthington Steel from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Zacks Research downgraded Worthington Steel from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 17th. KeyCorp reiterated an "overweight" rating on shares of Worthington Steel in a report on Tuesday, October 6th. Finally, Weiss Ratings downgraded shares of Worthington Steel from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $46.00.
Check Out Our Latest Stock Analysis on WS
Hedge Funds Weigh In On Worthington Steel
Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew 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 worth $6,113,000 after purchasing an additional 46,358 shares during the last quarter. Windsor Advisory Group LLC increased its holdings in 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 purchasing an additional 68,330 shares during the period. Bank of New York Mellon Corp acquired a new stake in Worthington Steel in the second quarter valued at $11,617,000. Sei Investments Co. raised its position in Worthington Steel by 127.8% during the 1st quarter. Sei Investments Co. now owns 71,474 shares of the company's stock worth $2,169,000 after purchasing an additional 40,097 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Worthington Steel by 2.8% during the 1st 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 last quarter. Institutional investors and hedge funds own 45.41% of the company's stock.
About Worthington Steel
(
Get Free Report)
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.
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