Worthington Steel, Inc. (NYSE:WS - Get Free Report)'s stock price was down 5.1% during mid-day trading on Friday . The stock traded as low as $27.02 and last traded at $26.44. Approximately 68,563 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 229,518 shares. The stock had previously closed at $27.87.
Wall Street Analysts Forecast Growth
Separately, KeyCorp dropped their price target on Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th.
Read Our Latest Stock Analysis on WS
Worthington Steel Trading Down 1.2 %
The stock's fifty day moving average price is $28.12 and its 200 day moving average price is $33.97. The stock has a market cap of $1.34 billion, a P/E ratio of 9.26 and a beta of 2.62.
Worthington Steel (NYSE:WS - Get Free Report) last posted 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 return on equity of 12.59% and a net margin of 4.36%. The business had revenue of $687.40 million for the quarter, compared to the consensus estimate of $732.00 million. During the same period in the previous year, the firm earned $0.99 EPS. The company's revenue was down 14.7% on a year-over-year basis. As a group, sell-side analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.
Worthington Steel Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 annualized dividend and a dividend yield of 2.42%. Worthington Steel's payout ratio is currently 29.91%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC purchased a new stake in shares of Worthington Steel in the fourth quarter worth $32,000. Tower Research Capital LLC TRC increased its stake in Worthington Steel by 82.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock valued at $132,000 after purchasing an additional 1,883 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Worthington Steel in the third quarter worth about $213,000. Voleon Capital Management LP bought a new position in shares of Worthington Steel in the fourth quarter worth approximately $213,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Worthington Steel in the fourth quarter worth approximately $220,000. Institutional investors own 45.41% of the company's stock.
About Worthington Steel
(
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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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