Worthington Steel (NYSE:WS) Trading Down 5.6% – Time to Sell?

Worthington Steel, Inc. (NYSE:WS) dropped 5.6% during trading on Monday . The stock traded as low as $32.18 and last traded at $32.18. Approximately 292,174 shares were traded during mid-day 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 6.6 %

The company’s fifty day simple moving average is $40.96 and its 200 day simple moving average is $36.23. The firm has a market capitalization of $1.62 billion and a P/E ratio of 12.84.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). The business had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $740.40 million. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. On average, analysts predict that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Worthington Steel’s payout ratio is presently 22.46%.

Institutional Trading of Worthington Steel

Institutional investors have recently made changes to their positions in the stock. Private Wealth Strategies L.L.C. bought a new position in shares of Worthington Steel in the 2nd quarter worth approximately $6,955,000. Millennium Management LLC raised its stake in Worthington Steel by 135.3% during the 2nd quarter. Millennium Management LLC now owns 189,968 shares of the company’s stock worth $6,337,000 after acquiring an additional 109,224 shares during the period. Janus Henderson Group PLC raised its stake in Worthington Steel by 546.5% during the 3rd quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock worth $3,179,000 after acquiring an additional 79,021 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Worthington Steel by 35.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company’s stock worth $8,948,000 after acquiring an additional 68,792 shares during the period. Finally, WINTON GROUP Ltd raised its stake in Worthington Steel by 54.5% during the 2nd quarter. WINTON GROUP Ltd now owns 141,024 shares of the company’s stock worth $4,705,000 after acquiring an additional 49,725 shares during the period. 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.