Worthington Steel (NYSE:WS) Sets New 52-Week Low - Should You Sell?

Worthington Steel, Inc. (NYSE:WS - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $24.80 and last traded at $25.42, with a volume of 337316 shares traded. The stock had previously closed at $25.94.

Worthington Steel Trading Down 2.0 %

The firm has a 50 day moving average of $29.65 and a 200-day moving average of $34.80. The company has a market cap of $1.29 billion, a P/E ratio of 8.92 and a beta of 2.59.

Worthington Steel (NYSE:WS - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $739.00 million for 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 business's quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. Equities analysts predict that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel's dividend payout ratio (DPR) is 22.46%.

Hedge Funds Weigh In On Worthington Steel

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new stake in Worthington Steel during the 4th quarter valued at about $1,535,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Worthington Steel by 17.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,893 shares of the company's stock worth $1,810,000 after buying an additional 8,583 shares during the last quarter. State of Wyoming grew its position in shares of Worthington Steel by 52.5% in the 4th quarter. State of Wyoming now owns 11,419 shares of the company's stock worth $363,000 after buying an additional 3,932 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Worthington Steel by 3.6% in the 4th quarter. Nuveen Asset Management LLC now owns 445,698 shares of the company's stock worth $14,182,000 after buying an additional 15,684 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Worthington Steel by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,505 shares of the company's stock worth $589,000 after buying an additional 634 shares during the last quarter. Hedge funds and other 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.

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