Worthington Steel (NYSE:WS) Shares Gap Up - What's Next?

Worthington Steel, Inc. (NYSE:WS - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $24.90, but opened at $26.60. Worthington Steel shares last traded at $25.85, with a volume of 73,168 shares changing hands.

Analysts Set New Price Targets

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

Worthington Steel Trading Up 2.6%

The business's fifty day moving average price is $25.37 and its 200 day moving average price is $29.88. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.11 and a beta of 1.65.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.32). Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business had revenue of $687.40 million during the quarter, compared to analyst estimates of $732.00 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The company's revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Worthington Steel, Inc. will post 2.26 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.46%. Worthington Steel's payout ratio is 29.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WS. Anchor Investment Management LLC acquired a new stake in shares of Worthington Steel during the fourth quarter worth $32,000. CWM LLC lifted its holdings in shares of Worthington Steel by 141.5% in the 1st quarter. CWM LLC now owns 2,186 shares of the company's stock valued at $55,000 after buying an additional 1,281 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Worthington Steel in the 1st quarter valued at about $118,000. Tower Research Capital LLC TRC lifted its position in shares of Worthington Steel by 82.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the company's stock valued at $132,000 after acquiring an additional 1,883 shares during the period. Finally, Voleon Capital Management LP purchased a new stake in Worthington Steel during the fourth quarter worth $213,000. 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.