Worthington Steel (NYSE:WS) Earns Hold (C) Rating from Weiss Ratings

Worthington Steel (NYSE:WS)‘s stock had its “hold (c)” rating restated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. KeyCorp boosted their price target on shares of Worthington Steel from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Worthington Steel Trading Down 2.7%

Shares of WS stock opened at $30.65 on Wednesday. Worthington Steel has a 1 year low of $21.30 and a 1 year high of $47.19. The firm’s fifty day simple moving average is $31.92 and its 200 day simple moving average is $28.80. The firm has a market capitalization of $1.56 billion, a P/E ratio of 14.06 and a beta of 1.76. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.04.

Worthington Steel (NYSE:WS) last announced its earnings results on Wednesday, September 24th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Worthington Steel had a net margin of 3.80% and a return on equity of 10.11%. The business had revenue of $872.90 million for the quarter, compared to analyst estimates of $785.30 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Worthington Steel’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Worthington Steel will post 2.26 EPS for the current year.

Institutional Investors Weigh In On Worthington Steel

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of Worthington Steel by 227.2% in the 1st quarter. Cerity Partners LLC now owns 24,333 shares of the company’s stock valued at $616,000 after purchasing an additional 16,896 shares in the last quarter. Foundry Partners LLC boosted its stake in shares of Worthington Steel by 110.2% in the 1st quarter. Foundry Partners LLC now owns 219,079 shares of the company’s stock valued at $5,549,000 after purchasing an additional 114,851 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Worthington Steel by 1,317.2% in the 1st quarter. GAMMA Investing LLC now owns 19,656 shares of the company’s stock valued at $498,000 after purchasing an additional 18,269 shares in the last quarter. Strs Ohio acquired a new stake in shares of Worthington Steel in the 1st quarter valued at $585,000. Finally, Nuveen LLC acquired a new position in Worthington Steel during the 1st quarter worth about $8,901,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Company Profile

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.