Worthington Steel (NYSE:WS) Reaches New 1-Year Low – What’s Next?

Worthington Steel, Inc. (NYSE:WS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $28.08 and last traded at $28.12, with a volume of 75136 shares trading hands. The stock had previously closed at $29.05.

Worthington Steel Price Performance

The stock has a market capitalization of $1.43 billion, a P/E ratio of 9.90 and a beta of 2.60. The stock has a 50 day moving average price of $35.40 and a 200-day moving average price of $35.90.

Worthington Steel (NYSE:WS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share (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 for the quarter, compared to the consensus estimate of $740.40 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. Worthington Steel’s revenue was down 8.5% compared to the same quarter last year. Research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 14th. This represents a $0.64 dividend on an annualized basis and a yield of 2.27%. Worthington Steel’s dividend payout ratio is currently 22.46%.

Institutional Trading of Worthington Steel

A number of institutional investors have recently modified their holdings of WS. Millennium Management LLC boosted its holdings in Worthington Steel by 135.3% in the second quarter. Millennium Management LLC now owns 189,968 shares of the company’s stock valued at $6,337,000 after acquiring an additional 109,224 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Worthington Steel by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,362 shares of the company’s stock worth $579,000 after purchasing an additional 1,440 shares during the period. SG Americas Securities LLC bought a new position in Worthington Steel in the third quarter worth about $349,000. Handelsbanken Fonder AB lifted its holdings in Worthington Steel by 24.9% in the third quarter. Handelsbanken Fonder AB now owns 8,016 shares of the company’s stock worth $273,000 after buying an additional 1,600 shares during the period. Finally, GAMMA Investing LLC boosted its position in Worthington Steel by 153.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after acquiring an additional 759 shares in the last quarter. 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.