Worthington Steel (NYSE:WS) Trading Down 5.6% – Should You Sell?

Worthington Steel, Inc. (NYSE:WS) dropped 5.6% during mid-day trading on Monday . The company 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 Stock Performance

The firm has a fifty day simple moving average of $40.89 and a 200 day simple moving average of $36.24. The company has a market capitalization of $1.66 billion and a PE ratio of 13.20.

Worthington Steel (NYSE:WS) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $740.40 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The business’s revenue was down 8.5% compared to the same quarter last year. Research analysts expect that Worthington Steel, Inc. will post 2.95 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, March 14th. Worthington Steel’s dividend payout ratio (DPR) is 22.46%.

Institutional Trading of Worthington Steel

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of Worthington Steel by 153.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock worth $43,000 after purchasing an additional 759 shares during the last quarter. nVerses Capital LLC bought a new position in Worthington Steel in the third quarter worth about $71,000. Eastern Bank purchased a new stake in shares of Worthington Steel during the third quarter valued at about $99,000. Victory Capital Management Inc. bought a new stake in shares of Worthington Steel in the 2nd quarter valued at about $208,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Worthington Steel in the 3rd quarter worth approximately $213,000. 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.