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

Worthington Steel, Inc. (NYSE:WS) was down 5.6% during trading on Monday . The company traded as low as $32.18 and last traded at $32.18. Approximately 292,174 shares changed 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 6.6 %

The company has a market cap of $1.62 billion and a P/E ratio of 12.84. The business’s 50 day simple moving average is $40.96 and its 200 day simple moving average is $36.23.

Worthington Steel (NYSE:WS) last released its earnings results on Wednesday, December 18th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The company had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $740.40 million. During the same period last year, the firm posted $0.11 EPS. Worthington Steel’s quarterly revenue was down 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Worthington Steel Dividend Announcement

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

Institutional Investors Weigh In On Worthington Steel

Several large investors have recently bought and sold shares of WS. Private Wealth Strategies L.L.C. bought a new stake in Worthington Steel in the second quarter worth $6,955,000. Millennium Management LLC increased its position in Worthington Steel by 135.3% in the second quarter. Millennium Management LLC now owns 189,968 shares of the company’s stock worth $6,337,000 after purchasing an additional 109,224 shares during the last quarter. Janus Henderson Group PLC increased its position in Worthington Steel by 546.5% in the third quarter. Janus Henderson Group PLC now owns 93,480 shares of the company’s stock worth $3,179,000 after purchasing an additional 79,021 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Worthington Steel by 35.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 263,087 shares of the company’s stock worth $8,948,000 after purchasing an additional 68,792 shares during the last quarter. Finally, WINTON GROUP Ltd increased its position in Worthington Steel by 54.5% in the second quarter. WINTON GROUP Ltd now owns 141,024 shares of the company’s stock worth $4,705,000 after purchasing an additional 49,725 shares during the last quarter. 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.