159,781 Shares of Worthington Steel, Inc. $WS Bought by Lido Advisors LLC

Lido Advisors LLC acquired a new position in Worthington Steel, Inc. (NYSE:WS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 159,781 shares of the company’s stock, valued at approximately $5,629,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Worthington Steel by 2.8% in 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 in the last quarter. Bank of New York Mellon Corp acquired a new stake in Worthington Steel during the second quarter valued at approximately $11,617,000. Windsor Advisory Group LLC lifted its stake in Worthington Steel by 32.9% during 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 last quarter. Empowered Funds LLC boosted its holdings in Worthington Steel by 13.6% during the first quarter. Empowered Funds LLC now owns 240,916 shares of the company’s stock worth $7,312,000 after buying an additional 28,780 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Worthington Steel by 29.9% during the first quarter. Principal Financial Group Inc. now owns 201,425 shares of the company’s stock worth $6,113,000 after buying an additional 46,358 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors.

Insider Activity at Worthington Steel

In other Worthington Steel news, insider Clifford Larivey sold 18,370 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $40.31, for a total value of $740,494.70. Following the completion of the transaction, the insider directly owned 33,519 shares in the company, valued at $1,351,150.89. This trade represents a 35.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 26,838 shares of company stock valued at $1,080,549 in the last ninety days. Company insiders own 2.70% of the company’s stock.

Worthington Steel Trading Down 2.3%

NYSE:WS opened at $38.57 on Friday. 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 1-year low of $27.22 and a 1-year high of $49.17. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -63.23 and a beta of 2.12. The stock has a fifty day simple moving average of $37.56 and a 200 day simple moving average of $37.65.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results 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 company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 212.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS. Sell-side analysts forecast that Worthington Steel, Inc. will post 4.07 earnings per share for the current year.

Worthington Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Shareholders of record on Monday, December 14th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, December 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. Worthington Steel’s dividend payout ratio is currently -104.92%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WS. Weiss Ratings lowered shares of Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Zacks Research cut Worthington Steel from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 17th. Finally, KeyCorp reiterated an “overweight” rating on shares of Worthington Steel in a research report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.00.

About Worthington Steel

Worthington Steel, Inc. is a steel processor that buys flat-rolled steel and prepares it to meet customers’ specifications. Its services include slitting, cutting to length, blanking and other processing, as well as the production of tailor-welded blanks and electrical steel laminations. The company serves customers in industries including automotive, construction, agriculture, energy and electrical manufacturing. Its operations and customer base span North America and Europe. Worthington Steel became an independent, publicly traded company in December 2023 through the separation of Worthington Industries’ steel processing business.