Worthington Steel (NYSE:WS) Sets New 52-Week Low – Here’s What Happened

Shares of Worthington Steel, Inc. (NYSE:WS) reached a new 52-week low on Tuesday . The company traded as low as $24.22 and last traded at $24.69, with a volume of 324067 shares traded. The stock had previously closed at $26.15.

Analyst Upgrades and Downgrades

Separately, KeyCorp reduced their target price on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, March 7th.

Worthington Steel Trading Down 0.7 %

The business has a fifty day simple moving average of $28.77 and a two-hundred day simple moving average of $34.41. The stock has a market cap of $1.32 billion, a PE ratio of 9.11 and a beta of 2.62.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, research analysts predict that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.47%. Worthington Steel’s dividend payout ratio is currently 22.46%.

Institutional Trading of Worthington Steel

Hedge funds have recently made changes to their positions in the stock. Anchor Investment Management LLC bought a new position in Worthington Steel in the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC lifted its position in Worthington Steel by 82.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company’s stock valued at $132,000 after acquiring an additional 1,883 shares in the last quarter. Quadrature Capital Ltd bought a new position in Worthington Steel in the 3rd quarter valued at approximately $213,000. Voleon Capital Management LP bought a new position in Worthington Steel in the 4th quarter valued at approximately $213,000. Finally, KLP Kapitalforvaltning AS bought a new position in Worthington Steel in the 4th quarter valued at approximately $220,000. 45.41% of the stock is owned by institutional investors.

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.