Worthington Steel (NYSE:WS) Insider Clifford Larivey Sells 1,100 Shares of Stock

Key Points

• Insider selling: Clifford Larivey sold 1,100 Worthington Steel shares for $44,044, reducing his position by 2.08% to 51,889 shares. He also recently sold 18,370 shares and 200 shares in separate transactions.
• Mixed operating results: Worthington Steel reported quarterly EPS of $0.57, missing the $1.16 consensus estimate, while revenue reached $2.73 billion and increased 212.4% year over year.
• Market and analyst outlook: Shares recently traded at $41.56, while analysts maintain a consensus “Hold” rating with a $46 target price. The company declared a quarterly dividend of $0.16, implying a 1.5% yield.

Worthington Steel, Inc. (NYSE:WS - Get Free Report) insider Clifford Larivey sold 1,100 shares of the firm's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $40.04, for a total transaction of $44,044.00. Following the sale, the insider owned 51,889 shares of the company's stock, valued at approximately $2,077,635.56. This represents a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 transaction of $740,494.70.
• On Tuesday, October 6th, Clifford Larivey sold 200 shares of Worthington Steel stock. The shares were sold at an average price of $40.00, for a total transaction of $8,000.00.

Worthington Steel Stock Performance

Worthington Steel stock traded up $1.88 during trading hours on Monday, hitting $41.56. The company had a trading volume of 534,390 shares, compared to its average volume of 308,741. The firm has a 50-day moving average of $35.81 and a 200 day moving average of $36.69. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.81 and a quick ratio of 1.00. The firm has a market cap of $2.13 billion, a PE ratio of -68.13 and a beta of 2.24. 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 quarterly earnings data on Tuesday, October 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.59). Worthington Steel had a positive return on equity of 7.49% and a negative net margin of 0.56%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company's revenue was up 212.4% on a year-over-year basis. On average, sell-side analysts expect that Worthington Steel, Inc. will post 4.29 earnings per share for the current 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 paid a $0.16 dividend. The ex-dividend date is Monday, December 14th. This represents a $0.64 annualized dividend and a yield of 1.5%. Worthington Steel's payout ratio is -104.92%.

Hedge Funds Weigh In On Worthington Steel

A number of hedge funds have recently modified their holdings of WS. Security National Bank of SO Dak acquired a new position in Worthington Steel during the 2nd quarter worth about $111,000. Public Employees Retirement System of Ohio bought a new position in shares of Worthington Steel during the second quarter worth about $51,000. Bank of New York Mellon Corp bought a new position in shares of Worthington Steel during the second quarter worth about $11,617,000. Empowered Funds LLC lifted its stake 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 worth $7,312,000 after acquiring an additional 28,780 shares during the period. Finally, Bank of America Corp DE lifted its stake 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 worth $2,582,000 after acquiring an additional 1,501 shares during the period. Institutional investors and hedge funds own 45.41% of the company's stock.

Analyst Ratings Changes

WS has been the topic of a number of research reports. Zacks Research lowered Worthington Steel from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 17th. Weiss Ratings downgraded shares of Worthington Steel from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. Wall Street Zen cut shares of Worthington Steel from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Worthington Steel in a report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Worthington Steel currently has a consensus rating of "Hold" and a consensus target price of $46.00.

Worthington Steel Company Profile

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.

The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.

Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.

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