Worthington Steel (NYSE:WS) Reaches New 12-Month Low – Should You Sell?

Worthington Steel, Inc. (NYSE:WS) hit a new 52-week low during trading on Thursday . The stock traded as low as $27.20 and last traded at $27.59, with a volume of 42078 shares. The stock had previously closed at $27.97.

Worthington Steel Stock Performance

The firm has a 50 day simple moving average of $29.91 and a 200 day simple moving average of $34.87. The firm has a market cap of $1.35 billion, a P/E ratio of 9.35 and a beta of 2.59.

Worthington Steel (NYSE:WS) last issued its earnings results on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $740.40 million. During the same quarter in the prior year, the business earned $0.11 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.64 annualized dividend and a yield of 2.40%. Worthington Steel’s dividend payout ratio is currently 22.46%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in shares of Worthington Steel in the 4th quarter valued at about $1,535,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Worthington Steel by 17.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,893 shares of the company’s stock valued at $1,810,000 after acquiring an additional 8,583 shares in the last quarter. State of Wyoming raised its holdings in shares of Worthington Steel by 52.5% in the 4th quarter. State of Wyoming now owns 11,419 shares of the company’s stock valued at $363,000 after acquiring an additional 3,932 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Worthington Steel by 3.6% in the 4th quarter. Nuveen Asset Management LLC now owns 445,698 shares of the company’s stock valued at $14,182,000 after acquiring an additional 15,684 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Worthington Steel by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company’s stock valued at $589,000 after acquiring an additional 634 shares in the last quarter. Institutional investors own 45.41% of the company’s stock.

About Worthington Steel

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.