Worthington Steel, Inc. $WS Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Worthington Steel stake by 72.9% in the second quarter, selling 30,000 shares and retaining 11,180 shares valued at approximately $375,000.
• Institutional ownership remains significant at 45.41%, with several firms—including Bank of New York Mellon and Empowered Funds—establishing or increasing positions.
• Analyst sentiment is mixed but leans toward “Hold”, with a consensus price target of $46.00 versus the stock’s recent price of $35.59. Worthington Steel’s latest quarterly EPS of $0.74 narrowly exceeded estimates, while revenue rose 11.6% year over year but fell short of expectations.

Engineers Gate Manager LP decreased its holdings in shares of Worthington Steel, Inc. (NYSE:WS - Free Report) by 72.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,180 shares of the company's stock after selling 30,000 shares during the period. Engineers Gate Manager LP's holdings in Worthington Steel were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in Worthington Steel in the 2nd quarter valued at about $51,000. Bank of New York Mellon Corp acquired a new position in shares of Worthington Steel during the second quarter valued at approximately $11,617,000. Empowered Funds LLC lifted its position in shares of Worthington Steel by 13.6% in the first quarter. Empowered Funds LLC now owns 240,916 shares of the company's stock valued at $7,312,000 after acquiring an additional 28,780 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Worthington Steel by 1.8% in the first quarter. Bank of America Corp DE now owns 85,083 shares of the company's stock valued at $2,582,000 after acquiring an additional 1,501 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Worthington Steel by 16.0% in the first quarter. Quantinno Capital Management LP now owns 14,159 shares of the company's stock worth $430,000 after acquiring an additional 1,948 shares during the last quarter. Hedge funds and other institutional investors own 45.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WS shares. KeyCorp reaffirmed an "overweight" rating on shares of Worthington Steel in a research note on Monday, June 29th. Weiss Ratings downgraded shares of Worthington Steel from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 3rd. Zacks Research lowered shares of Worthington Steel from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 17th. Finally, Wall Street Zen cut shares of Worthington Steel from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.00.

Worthington Steel Stock Performance

Shares of Worthington Steel stock opened at $35.59 on Friday. The business's 50 day moving average price is $35.54 and its 200 day moving average price is $36.15. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 25.60 and a beta of 2.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.92 and a current ratio of 1.46. Worthington Steel, Inc. has a one year low of $27.22 and a one year high of $49.17.

Worthington Steel (NYSE:WS - Get Free Report) last issued its earnings results on Thursday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $929.20 million during the quarter, compared to analysts' expectations of $992.00 million. Worthington Steel had a return on equity of 8.87% and a net margin of 0.50%.The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. On average, research analysts predict that Worthington Steel, Inc. will post 3.39 EPS for the current year.

About Worthington Steel

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers and industrial customers. Its operations include steel slitting, cold rolling, coating, electrical steel processing and other specialized treatments designed to meet customers' product and performance requirements.

The company supplies products and services to a range of end markets, including automotive, electrical infrastructure, construction, energy, industrial equipment and consumer products.

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