Sei Investments Co. Has $2.17 Million Stock Holdings in Worthington Steel, Inc. $WS

Sei Investments Co. lifted its holdings in shares of Worthington Steel, Inc. (NYSE:WS) by 127.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,474 shares of the company’s stock after purchasing an additional 40,097 shares during the period. Sei Investments Co.’s holdings in Worthington Steel were worth $2,169,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its stake in Worthington Steel by 1,239.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock valued at $26,000 after buying an additional 694 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Worthington Steel by 56.4% during the 4th quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock worth $32,000 after buying an additional 328 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Worthington Steel during the 4th quarter worth approximately $48,000. OP Asset Management Ltd acquired a new stake in shares of Worthington Steel during the 1st quarter worth approximately $49,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Worthington Steel in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Insider Buying and Selling

In other Worthington Steel news, COO Jeffrey R. Klingler sold 20,036 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $43.82, for a total transaction of $877,977.52. Following the completion of the sale, the chief operating officer directly owned 93,212 shares of the company’s stock, valued at approximately $4,084,549.84. The trade was a 17.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy A. Adams sold 2,367 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $42.27, for a total value of $100,053.09. Following the sale, the chief financial officer directly owned 44,098 shares of the company’s stock, valued at $1,864,022.46. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,708 shares of company stock worth $1,431,830 in the last quarter. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WS. Weiss Ratings downgraded shares of Worthington Steel from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Zacks Research upgraded shares of Worthington Steel from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Worthington Steel from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, KeyCorp reiterated an “overweight” rating on shares of Worthington Steel in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $46.00.

Worthington Steel Stock Performance

Shares of WS stock opened at $38.17 on Friday. The firm has a market capitalization of $1.94 billion, a PE ratio of 27.46 and a beta of 2.30. The firm has a fifty day simple moving average of $37.38 and a two-hundred day simple moving average of $38.02. The company has a current ratio of 1.46, a quick ratio of 0.92 and a debt-to-equity ratio of 0.04. Worthington Steel, Inc. has a 12 month low of $27.22 and a 12 month high of $49.17.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Thursday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $929.20 million for the quarter, compared to analyst estimates of $992.00 million. Worthington Steel had a net margin of 0.50% and a return on equity of 8.87%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. Analysts forecast that Worthington Steel, Inc. will post 3.39 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 15th. Worthington Steel’s dividend payout ratio is currently 46.04%.

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.