Worthington Steel (NYSE:WS) Director Jon Bowsher Purchases 2,500 Shares

Worthington Steel, Inc. (NYSE:WS) Director Jon Bowsher purchased 2,500 shares of the stock in a transaction on Friday, January 30th. The stock was bought at an average price of $40.15 per share, for a total transaction of $100,375.00. Following the completion of the transaction, the director directly owned 17,893 shares of the company’s stock, valued at approximately $718,403.95. This trade represents a 16.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Worthington Steel Stock Up 5.0%

Shares of NYSE:WS opened at $44.37 on Wednesday. The company’s fifty day moving average is $36.93 and its 200-day moving average is $33.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.80. Worthington Steel, Inc. has a 52 week low of $21.30 and a 52 week high of $44.46. The company has a market capitalization of $2.25 billion, a PE ratio of 24.93 and a beta of 1.68.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Friday, December 19th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $871.90 million during the quarter, compared to analyst estimates of $797.25 million. Worthington Steel had a net margin of 3.83% and a return on equity of 10.70%. Worthington Steel’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 earnings per share. Equities research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 13th. Worthington Steel’s dividend payout ratio (DPR) is currently 35.96%.

Institutional Trading of Worthington Steel

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new stake in shares of Worthington Steel in the second quarter worth about $25,000. AlphaQuest LLC bought a new stake in Worthington Steel during the 2nd quarter worth approximately $34,000. GAMMA Investing LLC increased its stake in Worthington Steel by 57.1% during the 2nd 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. Torren Management LLC acquired a new stake in Worthington Steel during the 4th quarter worth approximately $48,000. Finally, MAI Capital Management lifted its stake in Worthington Steel by 39.8% in 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 in the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Zacks Research lowered Worthington Steel from a “hold” rating to a “strong sell” rating in a research note on Monday, December 22nd. KeyCorp upped their target price on shares of Worthington Steel from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen raised shares of Worthington Steel from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.00.

Worthington Steel Company Profile

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.