Worthington Steel (NYSE:WS) Hits New 1-Year High – What’s Next?

Worthington Steel, Inc. (NYSE:WS)’s share price reached a new 52-week high on Monday . The stock traded as high as $48.06 and last traded at $46.9550, with a volume of 2270 shares traded. The stock had previously closed at $45.83.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WS shares. Zacks Research lowered shares of Worthington Steel from a “hold” rating to a “strong sell” rating in a research note on Monday, December 22nd. KeyCorp increased their target price on Worthington Steel from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Wall Street Zen upgraded Worthington Steel from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.00.

Worthington Steel Price Performance

The stock’s fifty day simple moving average is $37.70 and its 200-day simple moving average is $33.81. The company has a market capitalization of $2.46 billion, a P/E ratio of 27.24 and a beta of 1.68. 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 (NYSE:WS) last issued its quarterly earnings results on Friday, December 19th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Worthington Steel had a return on equity of 10.70% and a net margin of 3.83%.The business had revenue of $871.90 million for the quarter, compared to analyst estimates of $797.25 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.3%. Worthington Steel’s payout ratio is presently 35.96%.

Insider Activity

In other news, Director Jon J. Bowsher acquired 2,500 shares of Worthington Steel stock in a transaction on Friday, January 30th. The stock was bought at an average price of $40.15 per share, for a total transaction of $100,375.00. Following the transaction, the director owned 17,893 shares of the company’s stock, valued at $718,403.95. The trade was a 16.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 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 cost of $39.11 per share, for a total transaction of $273,770.00. Following the acquisition, the director directly owned 16,157 shares in the company, valued at $631,900.27. This represents a 76.44% increase in their position. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in Worthington Steel in the 2nd quarter valued at $25,000. Hantz Financial Services Inc. increased its stake in shares of Worthington Steel by 56.4% in the fourth quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock valued at $32,000 after buying an additional 328 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Worthington Steel in the second quarter valued at about $34,000. MAI Capital Management lifted its position in Worthington Steel by 39.8% during the 3rd quarter. MAI Capital Management now owns 1,404 shares of the company’s stock worth $43,000 after buying an additional 400 shares in the last quarter. Finally, Torren Management LLC bought a new stake in Worthington Steel during the 4th quarter worth about $48,000. Institutional investors own 45.41% of the company’s stock.

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.