Worthington Steel (NYSE:WS) Trading Down 5.7%

Worthington Steel, Inc. (NYSE:WS - Get Free Report)'s share price fell 5.7% during trading on Monday . The company traded as low as $32.82 and last traded at $32.84. 89,154 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 239,382 shares. The stock had previously closed at $34.81.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WS. Seaport Res Ptn reissued a "neutral" rating on shares of Worthington Steel in a research note on Monday, March 11th. KeyCorp raised their price objective on Worthington Steel from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, April 3rd.

Worthington Steel Stock Down 5.5 %

The business's 50 day moving average is $32.45.

Worthington Steel (NYSE:WS - Get Free Report) last posted its earnings results on Thursday, March 21st. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.19. The company had revenue of $805.80 million during the quarter, compared to the consensus estimate of $664.80 million. The business's revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Worthington Steel, Inc. will post 2.92 earnings per share for the current fiscal year.

Worthington Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.16 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.95%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Worthington Steel during the fourth quarter worth $101,000. Salem Investment Counselors Inc. bought a new stake in Worthington Steel during the fourth quarter worth $76,000. IFG Advisory LLC bought a new stake in shares of Worthington Steel in the fourth quarter valued at $337,000. Ritholtz Wealth Management bought a new stake in shares of Worthington Steel in the fourth quarter valued at $294,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Worthington Steel in the fourth quarter valued at $526,000. 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.