Worthington Steel (NYSE:WS) Hits New 52-Week Low – Time to Sell?

Worthington Steel, Inc. (NYSE:WS)’s share price reached a new 52-week low on Thursday . The stock traded as low as $27.20 and last traded at $27.59, with a volume of 42078 shares. The stock had previously closed at $27.97.

Worthington Steel Stock Down 2.8 %

The company’s fifty day simple moving average is $30.01 and its two-hundred day simple moving average is $34.93. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 9.54 and a beta of 2.60.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, December 18th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). The firm had revenue of $739.00 million for the quarter, compared to the consensus estimate of $740.40 million. Worthington Steel had a return on equity of 12.59% and a net margin of 4.36%. Worthington Steel’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. Equities research analysts expect that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid 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 2.35%. Worthington Steel’s dividend payout ratio is currently 22.46%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new position in Worthington Steel during the fourth quarter valued at approximately $41,741,000. Vanguard Group Inc. boosted its position in shares of Worthington Steel by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 4,467,428 shares of the company’s stock valued at $142,154,000 after acquiring an additional 550,181 shares during the period. Lido Advisors LLC acquired a new position in shares of Worthington Steel in the fourth quarter valued at about $5,755,000. First Trust Advisors LP acquired a new stake in Worthington Steel in the 4th quarter worth about $3,706,000. Finally, Bank of New York Mellon Corp increased its stake in Worthington Steel by 44.6% during the 4th quarter. Bank of New York Mellon Corp now owns 359,035 shares of the company’s stock worth $11,424,000 after acquiring an additional 110,662 shares during the period. Institutional investors and hedge funds 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.