Worthington Steel, Inc. (NYSE:WS - Get Free Report) shares were down 5.6% on Monday . The company traded as low as $32.18 and last traded at $32.18. Approximately 292,174 shares traded hands during trading, an increase of 28% from the average daily volume of 228,008 shares. The stock had previously closed at $34.10.
Worthington Steel Trading Down 7.2 %
The stock has a market capitalization of $1.61 billion and a price-to-earnings ratio of 12.76. The firm has a 50-day moving average of $40.96 and a 200-day moving average of $36.23.
Worthington Steel (NYSE:WS - Get Free Report) last posted 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). Worthington Steel had a net margin of 3.71% and a return on equity of 12.14%. The firm had revenue of $739.00 million for the quarter, compared to analysts' expectations of $740.40 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm's revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Worthington Steel, Inc. will post 2.95 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. Investors of record on Friday, March 14th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.64 annualized dividend and a dividend yield of 2.02%. Worthington Steel's dividend payout ratio (DPR) is presently 22.46%.
Hedge Funds Weigh In On Worthington Steel
Several institutional investors and hedge funds have recently modified their holdings of WS. GAMMA Investing LLC lifted its stake in shares of Worthington Steel by 153.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company's stock valued at $43,000 after purchasing an additional 759 shares during the period. nVerses Capital LLC purchased a new position in Worthington Steel in the third quarter valued at $71,000. Eastern Bank acquired a new position in shares of Worthington Steel in the third quarter worth about $99,000. Victory Capital Management Inc. purchased a new stake in shares of Worthington Steel during the 2nd quarter worth about $208,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Worthington Steel during the 3rd quarter valued at about $213,000. Institutional investors and hedge funds 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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