Director Carl A. Nelson Jr. of Worthington Steel, Inc. (NYSE:WS) recently sold 12,000 shares of company stock, totaling approximately $370,620. According to the latest Securities and Exchange Commission filing, the transactions occurred on April 26, 2024, with the shares sold at a weighted average price of $30.885 each.
The filing disclosed that these sales were executed in multiple transactions at prices ranging from $30.5687 to $31.07. After the sale, Nelson still owns a total of 85,583 common shares of Worthington Steel, directly indicating his remaining investment in the company.
Worthington Steel, based in Columbus, Ohio, operates within the steel industry and is known for its steel processing and manufacturing capabilities. The company's shares are publicly traded and have been subject to the usual market fluctuations that affect stock prices.
The SEC filing was signed on behalf of Carl A. Nelson Jr. by attorney-in-fact Joseph Y. Heuer, confirming the accuracy and completion of the report on April 30, 2024. The document also notes that Nelson is willing to provide full information about the number of shares sold at each price within the given range upon request by the Issuer, any security holder, or the SEC staff.
Investors and market watchers often pay close attention to insider transactions such as these, as they can provide valuable insights into the perspectives of a company's directors and executives. The trading activity of insiders is regularly reported to the SEC and made available to the public to ensure transparency in the financial markets.
InvestingPro Insights
As investors digest the news of Director Carl A. Nelson Jr.'s recent stock sale in Worthington Steel, Inc. (NYSE:WS), it's important to consider the company's financial health and market performance to better understand the context of such insider transactions. Based on the latest data from InvestingPro, Worthington Steel's market capitalization stands at $1.59 billion, reflecting the company's overall market value. Despite a lack of a current P/E ratio, the adjusted P/E ratio for the last twelve months as of Q3 2024 is at 8.15, suggesting the stock might be undervalued if the company's earnings are stable.
The company's revenue for the same period was $3.4 billion, with a modest quarterly growth of 3.22%. This growth is a sign of the company's ability to increase its sales over time. The gross profit margin stands at 13.49%, which aligns with the "InvestingPro Tip" that Worthington Steel suffers from weak gross profit margins. This could be a point of concern for investors looking for companies with stronger profitability metrics.
However, not all indicators are negative. Worthington Steel has been profitable over the last twelve months, and the "InvestingPro Tips" also highlight that the company's cash flows can sufficiently cover interest payments, which is a positive sign of financial stability. Additionally, the company operates with a moderate level of debt, which may provide some comfort to investors concerned about financial leverage.
For those interested in further insights and a deeper analysis, there are additional "InvestingPro Tips" available at InvestingPro. Users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes a comprehensive list of tips and metrics to aid in investment decisions.
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