Seaport Res Ptn Comments on Worthington Steel, Inc.’s FY2024 Earnings (NYSE:WS)

Worthington Steel, Inc. (NYSE:WS) – Analysts at Seaport Res Ptn issued their FY2024 earnings per share estimates for shares of Worthington Steel in a research report issued on Sunday, June 23rd. Seaport Res Ptn analyst M. Englert anticipates that the company will post earnings per share of $3.02 for the year. Seaport Res Ptn has a “Neutral” rating on the stock. Seaport Res Ptn also issued estimates for Worthington Steel’s Q4 2024 earnings at $0.67 EPS, Q1 2025 earnings at $0.62 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.72 EPS, Q4 2025 earnings at $0.84 EPS, FY2025 earnings at $2.79 EPS, Q1 2026 earnings at $0.83 EPS, Q2 2026 earnings at $0.80 EPS, Q3 2026 earnings at $0.80 EPS, Q4 2026 earnings at $0.94 EPS, FY2026 earnings at $3.38 EPS, FY2027 earnings at $3.48 EPS and FY2028 earnings at $3.51 EPS.

Separately, KeyCorp upped their price objective on Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd.

Worthington Steel Stock Performance

Shares of NYSE WS opened at $30.68 on Wednesday. The firm’s 50-day simple moving average is $32.14 and its 200 day simple moving average is $31.26. Worthington Steel has a fifty-two week low of $21.00 and a fifty-two week high of $40.15.

Insider Transactions at Worthington Steel

In other news, Director Carl A. Nelson, Jr. sold 12,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $30.89, for a total transaction of $370,680.00. Following the completion of the sale, the director now directly owns 85,583 shares of the company’s stock, valued at $2,643,658.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Worthington Steel

Several institutional investors and hedge funds have recently added to or reduced their stakes in WS. Key Financial Inc purchased a new stake in shares of Worthington Steel in the fourth quarter valued at $28,000. Bartlett & CO. Wealth Management LLC purchased a new position in Worthington Steel during the fourth quarter valued at approximately $30,000. Clean Yield Group acquired a new stake in shares of Worthington Steel during the 4th quarter valued at $34,000. DekaBank Deutsche Girozentrale acquired a new position in Worthington Steel in the 1st quarter worth about $37,000. Finally, TFO Wealth Partners LLC bought a new position in Worthington Steel during the fourth quarter valued at approximately $50,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Steel Company Profile

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.