Worthington Steel (NYSE:WS) Stock Rating Upgraded by Zacks Research

Worthington Steel (NYSE:WS) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on WS. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday, January 21st. KeyCorp upped their target price on shares of Worthington Steel from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $39.00.

Worthington Steel Stock Performance

WS stock opened at $45.38 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.09. Worthington Steel has a 1 year low of $21.30 and a 1 year high of $49.17. The company has a market cap of $2.31 billion, a P/E ratio of 25.49 and a beta of 1.68. The stock’s fifty day moving average price is $39.35 and its 200-day moving average price is $34.61.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $797.25 million. Worthington Steel had a net margin of 3.83% and a return on equity of 10.70%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. On average, equities analysts forecast that Worthington Steel will post 2.26 earnings per share for the current year.

Insider Activity at Worthington Steel

In other news, Director Jon J. Bowsher acquired 2,500 shares of Worthington Steel stock in a transaction dated Friday, January 30th. The stock was purchased at an average cost of $40.15 per share, with a total value of $100,375.00. Following the completion of the purchase, the director directly owned 17,893 shares in the company, valued at approximately $718,403.95. This trade represents a 16.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott J. Kelly acquired 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were purchased at an average price of $39.11 per share, for a total transaction of $273,770.00. Following the completion of the transaction, the director directly owned 16,157 shares in the company, valued at approximately $631,900.27. This trade represents a 76.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Worthington Steel

Several large investors have recently made changes to their positions in the business. Guggenheim Capital LLC purchased a new stake in shares of Worthington Steel during the fourth quarter worth about $276,000. Laurion Capital Management LP purchased a new position in Worthington Steel in the 4th quarter worth approximately $783,000. Price T Rowe Associates Inc. MD boosted its stake in Worthington Steel by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,950 shares of the company’s stock worth $1,141,000 after purchasing an additional 1,409 shares during the period. Weiss Asset Management LP grew its holdings in Worthington Steel by 7.3% during the 4th quarter. Weiss Asset Management LP now owns 24,174 shares of the company’s stock valued at $837,000 after buying an additional 1,644 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Worthington Steel by 5.7% during the 4th quarter. California State Teachers Retirement System now owns 32,011 shares of the company’s stock valued at $1,108,000 after buying an additional 1,728 shares in the last quarter. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

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.