Worthington Steel (NYSE:WS) Shares Down 5.7%

Worthington Steel, Inc. (NYSE:WS) shares were down 5.7% on Monday . The stock traded as low as $32.82 and last traded at $32.84. Approximately 89,154 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 239,382 shares. The stock had previously closed at $34.81.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WS shares. KeyCorp boosted their price objective on shares of Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Worthington Steel in a research note on Monday, March 11th.

Worthington Steel Stock Performance

The company has a fifty day moving average of $32.50.

Worthington Steel (NYSE:WS) last posted its quarterly earnings results on Thursday, March 21st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.19. The firm had revenue of $805.80 million for the quarter, compared to the consensus estimate of $664.80 million. The company’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities analysts forecast that Worthington Steel, Inc. will post 2.92 EPS for the current year.

Worthington Steel Dividend Announcement

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

Institutional Trading of Worthington Steel

Hedge funds and other institutional investors have recently modified their holdings of the business. Key Financial Inc bought a new position in shares of Worthington Steel in the 4th quarter worth approximately $28,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Worthington Steel in the 4th quarter worth approximately $30,000. Clean Yield Group bought a new position in shares of Worthington Steel in the 4th quarter worth approximately $34,000. Public Employees Retirement Association of Colorado bought a new position in shares of Worthington Steel in the 4th quarter worth approximately $48,000. Finally, TFO Wealth Partners LLC bought a new position in shares of Worthington Steel in the 4th quarter worth approximately $50,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

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.