Jon Bowsher Purchases 2,500 Shares of Worthington Steel (NYSE:WS) Stock

Worthington Steel, Inc. (NYSE:WS) Director Jon Bowsher purchased 2,500 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was acquired at an average price of $40.15 per share, with a total value of $100,375.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Worthington Steel Stock Up 5.0%

Shares of WS stock traded up $2.13 during trading hours on Tuesday, reaching $44.37. 264,750 shares of the company’s stock were exchanged, compared to its average volume of 277,620. Worthington Steel, Inc. has a 1 year low of $21.30 and a 1 year high of $44.46. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.25 billion, a PE ratio of 24.93 and a beta of 1.69. The stock’s fifty day moving average price is $36.72 and its two-hundred day moving average price is $33.41.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Friday, December 19th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company had revenue of $871.90 million during the quarter, compared to analysts’ expectations of $797.25 million. Worthington Steel had a net margin of 3.83% and a return on equity of 10.70%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. Research analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current 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 of this dividend is Friday, March 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.4%. Worthington Steel’s payout ratio is 35.96%.

Wall Street Analyst Weigh In

A number of analysts have commented on WS shares. Wall Street Zen raised Worthington Steel from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. KeyCorp raised their price objective on Worthington Steel from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Zacks Research downgraded Worthington Steel from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, January 21st. One investment 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, Worthington Steel presently has a consensus rating of “Hold” and a consensus price target of $39.00.

Hedge Funds Weigh In On Worthington Steel

A number of institutional investors have recently modified their holdings of WS. Alliancebernstein L.P. increased its position in shares of Worthington Steel by 695.6% in the third quarter. Alliancebernstein L.P. now owns 969,887 shares of the company’s stock valued at $29,475,000 after buying an additional 847,981 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Worthington Steel by 429.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 513,416 shares of the company’s stock valued at $15,603,000 after acquiring an additional 416,509 shares during the period. Vanguard Group Inc. increased its holdings in Worthington Steel by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 4,287,641 shares of the company’s stock worth $148,438,000 after acquiring an additional 217,090 shares in the last quarter. Keybank National Association OH purchased a new stake in Worthington Steel in the 4th quarter worth $7,163,000. Finally, American Century Companies Inc. raised its position in Worthington Steel by 51.3% during the third quarter. American Century Companies Inc. now owns 609,810 shares of the company’s stock worth $18,532,000 after acquiring an additional 206,778 shares during the period. Hedge funds and other 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.