Clifford Larivey Sells 11,105 Shares of Worthington Steel (NYSE:WS) Stock

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 11,105 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $40.09, for a total transaction of $445,199.45. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Worthington Steel Trading Down 0.4%

Shares of WS stock opened at $42.10 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $35.81 and a two-hundred day moving average price of $37.10. Worthington Steel, Inc. has a 12-month low of $24.23 and a 12-month high of $49.17. The company has a market capitalization of $2.14 billion, a PE ratio of 24.77 and a beta of 2.23.

Worthington Steel (NYSE:WS) last released its quarterly earnings results 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 net margin of 3.64% and a return on equity of 10.12%. The business had revenue of $769.80 million during the quarter, compared to analyst estimates of $882.95 million. During the same quarter last year, the company posted $0.35 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. As a group, analysts predict that Worthington Steel, Inc. will post 2.27 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.16 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Worthington Steel’s dividend payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Zacks Research raised Worthington Steel from a “strong sell” rating to a “hold” rating in a research report on Monday. KeyCorp assumed coverage on Worthington Steel in a research report on Wednesday, March 25th. They set an “overweight” rating and a $46.00 price target on the stock. Wall Street Zen downgraded Worthington Steel from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Steel in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Worthington Steel presently has an average rating of “Hold” and an average target price of $46.00.

Institutional Investors Weigh In On Worthington Steel

A number of large investors have recently bought and sold shares of the company. 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 worth $32,000 after purchasing an additional 328 shares during the last quarter. MAI Capital Management raised its holdings in Worthington Steel by 39.8% in the 3rd 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 raised its holdings in Worthington Steel by 1.5% in the 3rd 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 raised its holdings in Worthington Steel by 2.2% in the 4th 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 raised its holdings in Worthington Steel by 2.8% in the 3rd 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 currently owned by institutional investors and hedge funds.

About Worthington Steel

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.