SG Americas Securities LLC Invests $3.27 Million in Worthington Steel, Inc. $WS

Key Points

• SG Americas Securities LLC purchased a new stake of 94,562 shares in Worthington Steel (NYSE:WS) in Q4 valued at approximately $3.27 million, representing about 0.19% of the company.
• Company insiders increased holdings—Director Jon J. Bowsher bought 2,500 shares at $40.15 and Director Scott J. Kelly bought 7,000 shares at $39.11—raising their positions by 16.2% and 76.4%, respectively, signaling insider confidence.
• Worthington Steel missed Q1 estimates (EPS $0.27 vs. $0.47 expected; revenue $769.8M vs. $882.95M) but announced a quarterly dividend of $0.16 ($0.64 annual, ~2.1% yield).

SG Americas Securities LLC purchased a new stake in Worthington Steel, Inc. (NYSE:WS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 94,562 shares of the company's stock, valued at approximately $3,274,000. SG Americas Securities LLC owned 0.19% of Worthington Steel as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WS. Royal Bank of Canada lifted its holdings in Worthington Steel by 14.8% during the first quarter. Royal Bank of Canada now owns 15,771 shares of the company's stock worth $399,000 after acquiring an additional 2,038 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Worthington Steel by 89.4% in the first quarter. AQR Capital Management LLC now owns 50,634 shares of the company's stock worth $1,269,000 after acquiring an additional 23,899 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 in the last quarter. American Century Companies Inc. raised its position in shares of Worthington Steel by 49.7% during the second quarter. American Century Companies Inc. now owns 403,032 shares of the company's stock worth $12,022,000 after purchasing an additional 133,872 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Worthington Steel by 26.6% during the 2nd quarter. Prudential Financial Inc. now owns 43,207 shares of the company's stock valued at $1,289,000 after purchasing an additional 9,084 shares in the last quarter. Institutional investors own 45.41% of the company's stock.

Insider Buying and Selling

In other Worthington Steel news, Director Jon J. Bowsher bought 2,500 shares of Worthington Steel stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average price of $40.15 per share, for a total transaction of $100,375.00. Following the completion of the acquisition, the director owned 17,893 shares of the company's stock, valued at $718,403.95. This trade represents a 16.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Scott J. Kelly bought 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 27th. The stock was acquired at an average cost of $39.11 per share, with a total value of $273,770.00. Following the transaction, the director owned 16,157 shares of the company's stock, valued at $631,900.27. This represents a 76.44% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is owned by company insiders.

Worthington Steel Stock Performance

Shares of Worthington Steel stock opened at $30.31 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.48 and a quick ratio of 0.90. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 17.83 and a beta of 2.06. The stock's 50-day moving average is $38.99 and its 200-day moving average is $35.49. Worthington Steel, Inc. has a one year low of $21.30 and a one year high of $49.17.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.20). The firm had revenue of $769.80 million for the quarter, compared to the consensus estimate of $882.95 million. Worthington Steel had a return on equity of 10.12% and a net margin of 3.64%.The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. Equities analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a $0.16 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.1%. Worthington Steel's dividend payout ratio (DPR) is 37.65%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. KeyCorp assumed coverage on Worthington Steel in a research report on Wednesday, March 25th. They issued an "overweight" rating and a $46.00 price objective for the company. Wall Street Zen downgraded shares of Worthington Steel from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 28th. Zacks Research upgraded shares of Worthington Steel from a "strong sell" rating to a "hold" rating in a report on Monday, February 16th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Steel in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $46.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.