Worthington Steel (NYSE:WS) Price Target Lowered to $46.00 at KeyCorp

Worthington Steel (NYSE:WS) had its target price cut by research analysts at KeyCorp from $47.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 34.44% from the stock’s current price.

A number of other research firms have also weighed in on WS. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Worthington Steel from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Finally, Wall Street Zen upgraded Worthington Steel from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Worthington Steel has a consensus rating of “Hold” and a consensus price target of $46.00.

Worthington Steel Trading Up 0.8%

Shares of WS opened at $34.22 on Wednesday. Worthington Steel has a 52-week low of $21.30 and a 52-week high of $49.17. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $40.24 and its two-hundred day moving average is $35.62. The stock has a market cap of $1.74 billion, a PE ratio of 19.25 and a beta of 1.62.

Insiders Place Their Bets

In other Worthington Steel news, Director Scott J. Kelly acquired 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was purchased at an average cost of $39.11 per share, with a total value of $273,770.00. Following the transaction, the director owned 16,157 shares of the company’s stock, valued at $631,900.27. This trade represents a 76.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jon J. Bowsher acquired 2,500 shares of Worthington Steel stock in a transaction that occurred 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 completion of the acquisition, the director owned 17,893 shares in the company, valued at $718,403.95. This trade represents a 16.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Worthington Steel

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its holdings in shares of Worthington Steel by 1,239.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock worth $26,000 after acquiring an additional 694 shares during the last quarter. Hantz Financial Services Inc. raised its position in 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 purchasing an additional 328 shares during the period. MAI Capital Management boosted its position in shares of Worthington Steel by 39.8% during the third quarter. MAI Capital Management now owns 1,404 shares of the company’s stock worth $43,000 after buying an additional 400 shares during the period. Torren Management LLC acquired a new stake in shares of Worthington Steel in the fourth quarter valued at $48,000. Finally, Caldwell Trust Co acquired a new stake in shares of Worthington Steel in the second quarter valued at $52,000. 45.41% of the stock is 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.