Worthington Steel (NYSE:WS) Stock: Insider Clifford Larivey Sells 18,370 Shares

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 18,370 shares of Worthington Steel stock in a transaction on Friday, October 16th. The stock was sold at an average price of $40.31, for a total transaction 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 represents a 35.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Clifford Larivey also recently made the following trade(s):

• On Thursday, October 15th, Clifford Larivey sold 1,100 shares of Worthington Steel stock. The stock was sold at an average price of $40.04, for a total value of $44,044.00.
• On Tuesday, October 6th, Clifford Larivey sold 200 shares of Worthington Steel stock. The shares were sold at an average price of $40.00, for a total value of $8,000.00.

Worthington Steel Stock Up 4.7%

Shares of WS traded up $1.88 during midday trading on Monday, hitting $41.56. 534,387 shares of the company’s stock traded hands, compared to its average volume of 308,741. The company has a current ratio of 1.81, a quick ratio of 1.00 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -68.13 and a beta of 2.24. Worthington Steel, Inc. has a 1 year low of $27.22 and a 1 year high of $49.17. The firm’s fifty day moving average is $35.81 and its 200-day moving average is $36.69.

Worthington Steel (NYSE:WS) last announced its earnings results on Tuesday, October 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.59). Worthington Steel had a positive return on equity of 7.49% and a negative net margin of 0.56%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 212.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Worthington Steel, Inc. will post 4.29 earnings per share for the current year.

Worthington Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Shareholders of record on Monday, December 14th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, December 14th. Worthington Steel’s dividend payout ratio (DPR) is currently -104.92%.

Institutional Investors Weigh In On Worthington Steel

A number of large investors have recently made changes to their positions in the stock. Security National Bank of SO Dak acquired a new position in shares of Worthington Steel in the 2nd quarter valued at $111,000. Public Employees Retirement System of Ohio purchased a new position in Worthington Steel in the 2nd quarter worth $51,000. Bank of New York Mellon Corp purchased a new position in Worthington Steel in the 2nd quarter worth $11,617,000. Empowered Funds LLC lifted its position in Worthington Steel by 13.6% during the 1st quarter. Empowered Funds LLC now owns 240,916 shares of the company’s stock worth $7,312,000 after acquiring an additional 28,780 shares during the period. Finally, Bank of America Corp DE lifted its position in Worthington Steel by 1.8% during the 1st quarter. Bank of America Corp DE now owns 85,083 shares of the company’s stock worth $2,582,000 after acquiring an additional 1,501 shares during the period. 45.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WS. KeyCorp restated an “overweight” rating on shares of Worthington Steel in a research note on Tuesday, October 6th. Wall Street Zen lowered shares of Worthington Steel from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Zacks Research cut shares of Worthington Steel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 17th. Finally, Weiss Ratings cut shares of Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.00.

About Worthington Steel

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.

The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.

Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.