Worthington Steel (NYSE:WS) Insider Clifford Larivey Sells 7,168 Shares of Stock

Worthington Steel, Inc. (NYSE:WS) insider Clifford Larivey sold 7,168 shares of the firm’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $40.18, for a total value of $288,010.24. Following the completion of the transaction, the insider owned 26,351 shares in the company, valued at $1,058,783.18. The trade was a 21.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Clifford Larivey also recently made the following trade(s):

• On Friday, October 16th, Clifford Larivey sold 18,370 shares of Worthington Steel stock. The shares were sold at an average price of $40.31, for a total value of $740,494.70.
• On Thursday, October 15th, Clifford Larivey sold 1,100 shares of Worthington Steel stock. The stock was sold at an average price of $40.04, for a total transaction of $44,044.00.
• On Tuesday, October 6th, Clifford Larivey sold 200 shares of Worthington Steel stock. The stock was sold at an average price of $40.00, for a total transaction of $8,000.00.

Worthington Steel Trading Down 0.8%

Shares of Worthington Steel stock opened at $40.90 on Thursday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -67.05 and a beta of 2.24. The company has a quick ratio of 1.00, a current ratio of 1.81 and a debt-to-equity ratio of 1.02. Worthington Steel, Inc. has a 12-month low of $27.22 and a 12-month high of $49.17. The firm’s 50-day moving average price is $36.01 and its two-hundred day moving average price is $36.91.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, October 7th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.59). The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $3.14 billion. Worthington Steel had a negative net margin of 0.56% and a positive return on equity of 7.49%. Worthington Steel’s quarterly revenue was up 212.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share. On average, analysts forecast that Worthington Steel, Inc. will post 4.29 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be given a dividend of $0.16 per share. The ex-dividend date is Monday, December 14th. This represents a $0.64 annualized dividend and a dividend yield of 1.6%. Worthington Steel’s dividend payout ratio (DPR) is currently -104.92%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. KeyCorp reissued an “overweight” rating on shares of Worthington Steel in a research note on Tuesday, October 6th. Wall Street Zen cut Worthington Steel from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research cut Worthington Steel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 17th. Finally, Weiss Ratings downgraded Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in Worthington Steel during the second quarter worth about $11,617,000. Dimensional Fund Advisors LP lifted its holdings in shares of Worthington Steel by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,520,318 shares of the company’s stock worth $76,485,000 after acquiring an additional 68,775 shares during the last quarter. Windsor Advisory Group LLC boosted its stake in shares of Worthington Steel by 32.9% in the 1st quarter. Windsor Advisory Group LLC now owns 275,885 shares of the company’s stock valued at $8,373,000 after purchasing an additional 68,330 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Worthington Steel by 29.9% in the 1st quarter. Principal Financial Group Inc. now owns 201,425 shares of the company’s stock valued at $6,113,000 after purchasing an additional 46,358 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Worthington Steel by 127.8% during the 1st quarter. Sei Investments Co. now owns 71,474 shares of the company’s stock valued at $2,169,000 after purchasing an additional 40,097 shares during the last quarter. Institutional investors own 45.41% of the company’s stock.

About Worthington Steel

Worthington Steel, Inc (NYSE: WS) is a steel processing company that produces value-added flat-rolled steel products for manufacturers and industrial customers. The company processes carbon steel, electrical steel and other specialty steel products, with offerings that include coated and treated steel, electrical steel laminations and tailor-welded blanks.

Its products are used in a range of applications, including automotive components, electrical equipment, motors and transformers, construction products, appliances, energy systems, agriculture and general industrial manufacturing.