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COLUMBUS, Ohio - Worthington Steel, Inc. (NYSE:WS) has appointed Mark Davis to its Board of Directors, the company announced in a press release statement. Davis will serve as a member of the Board’s Audit Committee. The appointment comes as the company, currently valued at $1.3 billion, maintains a strong financial health score according to InvestingPro data, with a P/E ratio of 11.1x and a healthy current ratio of 1.75.
Davis brings over 30 years of experience in investment banking and corporate finance to the role. He is currently a private investor and co-chair of Lank Acquisition Corp., which invests in minority and majority positions in both public and private companies.
His career includes senior leadership positions at JPMorgan Chase, where he oversaw the Mergers and Acquisitions Group, General Industry Investment Banking, and Investment Banking Coverage for corporate clients. Davis previously held senior roles at Salomon Brothers and began his investment banking career at Kidder, Peabody & Co.
Davis has board experience with several organizations, including Worthington Enterprises, Scott Paper Co., Valassis Industries Inc., and Manhattanville College, where he chaired the finance committee. He holds an MBA from the Tuck School of Business and a bachelor’s degree from Dartmouth College.
Worthington Steel processes carbon flat-roll steel and provides electrical steel laminations and tailor welded solutions. The company operates 37 facilities across seven states and 10 countries, employing approximately 6,000 people. With annual revenues of $3.17 billion and a return on equity of 11%, InvestingPro analysis suggests the stock is currently undervalued, presenting a potential opportunity for investors seeking exposure to the steel sector.
In other recent news, Worthington Steel has made significant strides in expanding its operations and financial activities. The company completed the acquisition of a majority equity stake in the Sitem Group, a European manufacturer of electric motor laminations. This strategic acquisition, through its subsidiary Tempel Steel Company, LLC, gives Worthington Steel approximately 52% ownership of Sitem Group, enhancing its presence in the European market. The acquisition is part of Worthington Steel’s strategy to strengthen its capabilities in the global automotive, industrial motor, and transformer sectors. Additionally, Worthington Steel announced a quarterly dividend of $0.16 per share, to be paid on September 26, 2025, to shareholders of record as of September 12, 2025. These developments reflect the company’s ongoing efforts to expand its market reach and provide value to its shareholders. The company will further discuss its fiscal 2025 fourth-quarter results in an upcoming conference call. These recent moves by Worthington Steel are part of its long-term goal to expand in high-value electrical steel applications.
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