Lido Advisors LLC Acquires New Holdings in Worthington Steel, Inc. $WS

Lido Advisors LLC acquired a new position in Worthington Steel, Inc. (NYSE:WS) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 159,781 shares of the company’s stock, valued at approximately $5,629,000. Lido Advisors LLC owned approximately 0.31% of Worthington Steel at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WS. Dimensional Fund Advisors LP raised its stake in Worthington Steel by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,520,318 shares of the company’s stock valued at $76,485,000 after acquiring an additional 68,775 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Worthington Steel in the second quarter worth $11,617,000. Windsor Advisory Group LLC grew its stake in shares of Worthington Steel by 32.9% in the first quarter. Windsor Advisory Group LLC now owns 275,885 shares of the company’s stock worth $8,373,000 after purchasing an additional 68,330 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Worthington Steel by 13.6% during the first quarter. Empowered Funds LLC now owns 240,916 shares of the company’s stock valued at $7,312,000 after purchasing an additional 28,780 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Worthington Steel by 29.9% during the first 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 during the period. 45.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WS. Weiss Ratings cut shares of Worthington Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 14th. Zacks Research downgraded shares of Worthington Steel from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 17th. Finally, KeyCorp reiterated an “overweight” rating on shares of Worthington Steel in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.00.

Insider Activity at Worthington Steel

In other news, insider Clifford Larivey sold 7,168 shares of the business’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 sale, the insider owned 26,351 shares of the company’s stock, valued at approximately $1,058,783.18. The trade was a 21.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 26,838 shares of company stock valued at $1,080,549. 2.70% of the stock is currently owned by insiders.

Worthington Steel Price Performance

NYSE WS opened at $38.57 on Friday. Worthington Steel, Inc. has a 12 month low of $27.22 and a 12 month high of $49.17. The firm has a market capitalization of $1.98 billion, a PE ratio of -63.23 and a beta of 2.12. The company’s 50 day simple moving average is $37.56 and its 200 day simple moving average is $37.65. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.81 and a quick ratio of 1.00.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, October 7th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.59). The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $3.14 billion. Worthington Steel had a positive return on equity of 7.49% and a negative net margin of 0.56%. The business’s revenue for the quarter was up 212.4% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. As a group, equities research analysts forecast that Worthington Steel, Inc. will post 4.07 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Monday, December 14th will be paid 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 of this dividend is Monday, December 14th. Worthington Steel’s payout ratio is currently -104.92%.

About Worthington Steel

Worthington Steel, Inc. is a steel processor that buys flat-rolled steel and prepares it to meet customers’ specifications. Its services include slitting, cutting to length, blanking and other processing, as well as the production of tailor-welded blanks and electrical steel laminations. The company serves customers in industries including automotive, construction, agriculture, energy and electrical manufacturing. Its operations and customer base span North America and Europe. Worthington Steel became an independent, publicly traded company in December 2023 through the separation of Worthington Industries’ steel processing business.