Worthington Steel (NYSE:WS) Stock Rating Upgraded by Zacks Research

Worthington Steel (NYSE:WS) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

WS has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, January 21st. KeyCorp raised their price target on shares of Worthington Steel from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.00.

Worthington Steel Trading Down 3.2%

NYSE:WS opened at $45.38 on Monday. The firm has a 50-day simple moving average of $39.35 and a 200-day simple moving average of $34.61. Worthington Steel has a one year low of $21.30 and a one year high of $49.17. The firm has a market cap of $2.31 billion, a P/E ratio of 25.49 and a beta of 1.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.80.

Worthington Steel (NYSE:WS) last announced its earnings results on Friday, December 19th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $871.90 million during the quarter, compared to the consensus estimate of $797.25 million. Worthington Steel had a return on equity of 10.70% and a net margin of 3.83%.The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Equities analysts anticipate that Worthington Steel will post 2.26 EPS for the current fiscal year.

Insider Transactions at Worthington Steel

In other news, Director Scott J. Kelly bought 7,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were purchased at an average price of $39.11 per share, with a total value of $273,770.00. Following the transaction, the director directly owned 16,157 shares in the company, valued at $631,900.27. This represents a 76.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jon J. Bowsher acquired 2,500 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was purchased at an average price of $40.15 per share, for a total transaction of $100,375.00. Following the transaction, the director directly owned 17,893 shares of the company’s stock, valued at approximately $718,403.95. This trade represents a 16.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Worthington Steel

Large investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its position in Worthington Steel by 56.4% in the 4th quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock worth $32,000 after buying an additional 328 shares during the period. MAI Capital Management raised its stake in shares of Worthington Steel by 39.8% during the 3rd quarter. MAI Capital Management now owns 1,404 shares of the company’s stock worth $43,000 after purchasing an additional 400 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Worthington Steel by 1.5% during the third quarter. Public Employees Retirement System of Ohio now owns 28,143 shares of the company’s stock worth $855,000 after purchasing an additional 406 shares during the period. Cardinal Capital Management grew its position in Worthington Steel by 2.2% during the fourth quarter. Cardinal Capital Management now owns 20,297 shares of the company’s stock worth $703,000 after buying an additional 443 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Worthington Steel by 37.2% during the 3rd quarter. CWM LLC now owns 1,917 shares of the company’s stock worth $58,000 after buying an additional 520 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors and hedge funds.

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.