Worthington Steel (NYSE:WS) Sets New 12-Month High – Still a Buy?

Worthington Steel, Inc. (NYSE:WS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.92 and last traded at $42.92, with a volume of 3371 shares changing hands. The stock had previously closed at $39.37.

Worthington Steel Stock Up 15.0 %

The firm has a market capitalization of $2.30 billion and a PE ratio of 18.00. The stock’s fifty day simple moving average is $34.60 and its 200 day simple moving average is $33.76.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $834.00 million during the quarter, compared to analyst estimates of $748.40 million. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. Worthington Steel’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, analysts predict that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Worthington Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.41%. Worthington Steel’s dividend payout ratio (DPR) is presently 25.81%.

Institutional Investors Weigh In On Worthington Steel

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Worthington Steel by 36.8% during the 3rd quarter. Victory Capital Management Inc. now owns 8,523 shares of the company’s stock valued at $290,000 after purchasing an additional 2,291 shares during the period. Principal Financial Group Inc. raised its stake in Worthington Steel by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 163,757 shares of the company’s stock valued at $5,569,000 after purchasing an additional 11,976 shares during the period. Amalgamated Bank lifted its holdings in Worthington Steel by 8.9% in the 3rd quarter. Amalgamated Bank now owns 10,173 shares of the company’s stock worth $346,000 after purchasing an additional 830 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Worthington Steel by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 64,487 shares of the company’s stock worth $2,193,000 after purchasing an additional 305 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Worthington Steel by 10.0% in the third quarter. State of Alaska Department of Revenue now owns 19,841 shares of the company’s stock worth $674,000 after buying an additional 1,796 shares in the last quarter. Institutional investors own 45.41% of the company’s stock.

Worthington Steel Company Profile

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.