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

Worthington Steel, Inc. (NYSE:WS) reached 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 changing hands. The stock had previously closed at $29.05.

Worthington Steel Stock Down 2.9 %

The business has a 50-day moving average price of $35.40 and a two-hundred day moving average price of $35.90. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 9.90 and a beta of 2.60.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.37). The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $740.40 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. On average, sell-side analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

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

Institutional Trading of Worthington Steel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WS. GAMMA Investing LLC lifted its position in shares of Worthington Steel by 153.0% during the third quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after purchasing an additional 759 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Worthington Steel during the 3rd quarter worth approximately $71,000. Eastern Bank purchased a new position in shares of Worthington Steel in the 3rd quarter worth approximately $99,000. Quadrature Capital Ltd purchased a new stake in shares of Worthington Steel during the third quarter valued at approximately $213,000. Finally, MML Investors Services LLC purchased a new stake in shares of Worthington Steel during the third quarter valued at approximately $239,000. 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.