Worthington Steel (NYSE:WS) Reaches New 12-Month Low – Should You Sell?

Worthington Steel, Inc. (NYSE:WS) reached a new 52-week low during trading on Thursday . The company traded as low as $27.20 and last traded at $27.59, with a volume of 42078 shares trading hands. The stock had previously closed at $27.97.

Worthington Steel Trading Down 1.9 %

The firm has a market capitalization of $1.35 billion, a PE ratio of 9.35 and a beta of 2.59. The business has a 50-day moving average of $29.91 and a 200 day moving average of $34.87.

Worthington Steel (NYSE:WS) last released 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). The company had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $740.40 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. On average, sell-side analysts expect that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Dividend Announcement

The business 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. This represents a $0.64 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel’s payout ratio is currently 22.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System grew its stake in Worthington Steel by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 64,487 shares of the company’s stock valued at $2,193,000 after purchasing an additional 305 shares during the period. PNC Financial Services Group Inc. grew its stake in Worthington Steel by 1.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 28,304 shares of the company’s stock valued at $963,000 after purchasing an additional 350 shares during the period. Wellington Management Group LLP grew its stake in Worthington Steel by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 69,920 shares of the company’s stock valued at $2,225,000 after purchasing an additional 434 shares during the period. Bank of Montreal Can grew its stake in shares of Worthington Steel by 6.0% during the 4th quarter. Bank of Montreal Can now owns 8,848 shares of the company’s stock worth $282,000 after acquiring an additional 497 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Worthington Steel by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company’s stock worth $589,000 after acquiring an additional 634 shares during the period. Institutional investors own 45.41% of the company’s stock.

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.