Worthington Steel (NYSE:WS) Hits New 12-Month Low - Here's Why

Shares of Worthington Steel, Inc. (NYSE:WS - Get Free Report) hit a new 52-week low on Monday . The company 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 Stock Down 0.8 %

The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 9.83 and a beta of 2.59. The firm has a 50-day moving average of $33.74 and a two-hundred day moving average of $35.61.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). The company 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 revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. As a group, sell-side analysts predict 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. Shareholders of record on Friday, March 14th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel's dividend payout ratio is 22.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in Worthington Steel by 2.2% in the 3rd quarter. State Street Corp now owns 1,557,031 shares of the company's stock valued at $52,955,000 after purchasing an additional 33,534 shares during the period. Pacer Advisors Inc. acquired a new stake in Worthington Steel in the 4th quarter valued at $41,741,000. Geode Capital Management LLC grew its holdings in shares of Worthington Steel by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 771,371 shares of the company's stock worth $26,240,000 after purchasing an additional 41,925 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Worthington Steel by 44.6% during the fourth quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company's stock worth $11,424,000 after buying an additional 110,662 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Worthington Steel by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 330,880 shares of the company's stock valued at $10,529,000 after purchasing an additional 9,584 shares during the last quarter. 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.