Worthington Steel (NYSE:WS) Stock Price Down 5.3% - What's Next?

Worthington Steel, Inc. (NYSE:WS - Get Free Report) traded down 5.3% during trading on Monday . The company traded as low as $30.18 and last traded at $30.32. 38,785 shares traded hands during trading, a decline of 85% from the average session volume of 253,277 shares. The stock had previously closed at $32.03.

Analysts Set New Price Targets

Separately, KeyCorp dropped their price objective on Worthington Steel from $41.00 to $34.00 and set an "overweight" rating on the stock in a report on Friday, March 7th.

Worthington Steel Trading Up 2.8%

The firm has a 50-day moving average of $26.23 and a two-hundred day moving average of $27.56. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 14.07 and a beta of 1.65.

Worthington Steel (NYSE:WS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.22. Worthington Steel had a net margin of 3.58% and a return on equity of 9.43%. The company had revenue of $832.90 million during the quarter, compared to analysts' expectations of $800.45 million. During the same quarter in the prior year, the company posted $1.06 EPS. The business's revenue was down 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Worthington Steel, Inc. will post 2.26 EPS for the current year.

Worthington Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.09%. Worthington Steel's dividend payout ratio is 29.91%.

Institutional Investors Weigh In On Worthington Steel

Hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new position in Worthington Steel in the fourth quarter valued at approximately $32,000. CWM LLC raised its position in shares of Worthington Steel by 141.5% during the 1st quarter. CWM LLC now owns 2,186 shares of the company's stock valued at $55,000 after acquiring an additional 1,281 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Worthington Steel in the 1st quarter valued at $118,000. Tower Research Capital LLC TRC boosted its position in shares of Worthington Steel by 82.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock worth $132,000 after purchasing an additional 1,883 shares during the last quarter. Finally, Voleon Capital Management LP bought a new position in shares of Worthington Steel in the 4th quarter worth $213,000. 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.