Worthington Steel (NYSE:WS) Reaches New 12-Month Low – Here’s What Happened

Worthington Steel, Inc. (NYSE:WSGet Free Report)’s stock price hit a new 52-week low during 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 Trading Down 1.1 %

The stock’s fifty day moving average is $34.74 and its two-hundred day moving average is $35.78. The firm has a market cap of $1.41 billion, a P/E ratio of 9.75 and a beta of 2.60.

Worthington Steel (NYSE:WSGet Free Report) last released its 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 net margin of 4.36% and a return on equity of 12.59%. The firm 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 company earned $0.11 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. On average, analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, March 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.30%. Worthington Steel’s dividend payout ratio is presently 22.46%.

Institutional Investors Weigh In On Worthington Steel

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Worthington Steel by 153.0% in the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock worth $43,000 after purchasing an additional 759 shares during the last quarter. nVerses Capital LLC bought a new stake in Worthington Steel during the third quarter valued at about $71,000. Eastern Bank bought a new stake in Worthington Steel during the 3rd quarter valued at approximately $99,000. Quadrature Capital Ltd purchased a new position in shares of Worthington Steel in the third quarter worth $213,000. Finally, MML Investors Services LLC purchased a new stake in Worthington Steel in the 3rd quarter worth $239,000. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Company Profile

(Get Free Report)

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.

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