Worthington Steel (NYSE:WS) Sets New 1-Year Low – Time to Sell?

Worthington Steel, Inc. (NYSE:WS) reached a new 52-week low on Thursday . The stock traded as low as $24.00 and last traded at $24.23, with a volume of 454 shares trading hands. The stock had previously closed at $25.90.

Analyst Upgrades and Downgrades

Separately, KeyCorp decreased their price target on Worthington Steel from $41.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, March 7th.

Worthington Steel Price Performance

The firm has a fifty day simple moving average of $27.54 and a 200 day simple moving average of $33.70. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 8.24 and a beta of 2.62.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.32). Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The firm had revenue of $687.40 million for the quarter, compared to the consensus estimate of $732.00 million. During the same period in the prior year, the company posted $0.99 earnings per share. Worthington Steel’s quarterly revenue was down 14.7% on a year-over-year basis. Analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, June 13th. Worthington Steel’s dividend payout ratio is currently 29.91%.

Institutional Investors Weigh In On Worthington Steel

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC boosted its holdings in Worthington Steel by 44.5% in the 3rd quarter. Jane Street Group LLC now owns 68,744 shares of the company’s stock valued at $2,338,000 after purchasing an additional 21,172 shares during the period. Geode Capital Management LLC raised its stake in shares of Worthington Steel by 5.7% in the third quarter. Geode Capital Management LLC now owns 771,371 shares of the company’s stock valued at $26,240,000 after purchasing an additional 41,925 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Worthington Steel in the fourth quarter worth $649,000. Janus Henderson Group PLC boosted its stake in Worthington Steel by 546.5% during the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock worth $3,179,000 after buying an additional 79,021 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Worthington Steel by 46.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 85,141 shares of the company’s stock valued at $2,896,000 after buying an additional 26,809 shares during the period. 45.41% of the stock is owned by 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.