Worthington Steel (NYSE:WS) Director Scott Kelly Acquires 7,000 Shares of Stock

Worthington Steel, Inc. (NYSE:WS) Director Scott Kelly acquired 7,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was purchased at an average cost of $39.11 per share, for a total transaction of $273,770.00. Following the completion of the purchase, the director directly owned 16,157 shares in the company, valued at $631,900.27. This trade represents a 76.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Worthington Steel Stock Up 2.8%

WS stock opened at $40.10 on Friday. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $44.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.80. The company has a fifty day moving average of $36.35 and a 200-day moving average of $33.26. The stock has a market capitalization of $2.04 billion, a PE ratio of 22.53 and a beta of 1.69.

Worthington Steel (NYSE:WS) last posted its quarterly earnings results on Friday, December 19th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $871.90 million for the quarter, compared to analysts’ expectations of $797.25 million. Worthington Steel had a return on equity of 10.70% and a net margin of 3.83%.The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, March 13th. Worthington Steel’s dividend payout ratio is currently 35.96%.

Wall Street Analyst Weigh In

Several brokerages have commented on WS. Wall Street Zen upgraded shares of Worthington Steel from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Zacks Research cut shares of Worthington Steel from a “hold” rating to a “strong sell” rating in a research note on Monday, December 22nd. KeyCorp boosted their price objective on shares of Worthington Steel from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Worthington Steel presently has a consensus rating of “Hold” and a consensus target price of $39.00.

Institutional Trading of Worthington Steel

Several large investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Worthington Steel by 14.8% during the 1st quarter. Royal Bank of Canada now owns 15,771 shares of the company’s stock worth $399,000 after purchasing an additional 2,038 shares during the last quarter. AQR Capital Management LLC increased its position in Worthington Steel by 89.4% during the first quarter. AQR Capital Management LLC now owns 50,634 shares of the company’s stock worth $1,269,000 after buying an additional 23,899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Worthington Steel by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock worth $490,000 after acquiring an additional 841 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Worthington Steel by 57.1% in the second quarter. GAMMA Investing LLC now owns 1,219 shares of the company’s stock worth $36,000 after acquiring an additional 443 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Worthington Steel by 101.2% in the second quarter. Public Employees Retirement System of Ohio now owns 27,737 shares of the company’s stock valued at $827,000 after acquiring an additional 13,951 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

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.