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

Worthington Steel, Inc. (NYSE:WS)’s share price reached a new 52-week low during mid-day trading on Thursday . The company 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.

Wall Street Analyst Weigh In

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

Worthington Steel Trading Down 2.4 %

The business has a 50-day moving average of $27.27 and a 200 day moving average of $33.56. The firm has a market capitalization of $1.16 billion, a P/E ratio of 8.04 and a beta of 2.03.

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

Worthington Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, June 13th. Worthington Steel’s dividend payout ratio (DPR) is 29.91%.

Institutional Investors Weigh In On Worthington Steel

Hedge funds and other institutional investors have recently made changes to their positions in the business. Anchor Investment Management LLC acquired a new position in Worthington Steel during the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC boosted its position in shares of Worthington Steel by 82.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company’s stock valued at $132,000 after buying an additional 1,883 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Worthington Steel during the third quarter worth $213,000. Voleon Capital Management LP purchased a new stake in Worthington Steel in the 4th quarter valued at $213,000. Finally, KLP Kapitalforvaltning AS bought a new position in Worthington Steel during the 4th quarter valued at $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.