Worthington Steel (NYSE:WS - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.22, Zacks reports. Worthington Steel had a net margin of 3.41% and a return on equity of 9.58%.
Worthington Steel Stock Performance
Shares of WS stock traded up $0.63 during mid-day trading on Wednesday, reaching $26.32. 452,058 shares of the company were exchanged, compared to its average volume of 270,330. The company has a market capitalization of $1.34 billion, a P/E ratio of 12.30 and a beta of 1.64. The business's 50 day simple moving average is $25.75 and its 200 day simple moving average is $28.06. Worthington Steel has a fifty-two week low of $21.30 and a fifty-two week high of $47.19.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Worthington Steel by 89.4% during the first quarter. AQR Capital Management LLC now owns 50,634 shares of the company's stock worth $1,269,000 after purchasing an additional 23,899 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Worthington Steel by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company's stock valued at $490,000 after buying an additional 841 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Worthington Steel by 14.8% during the first quarter. Royal Bank of Canada now owns 15,771 shares of the company's stock valued at $399,000 after buying an additional 2,038 shares in the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, KeyCorp reduced their price target on Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, March 7th.
Check Out Our Latest Report on WS
About Worthington Steel
(
Get Free Report)
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.
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