Worthington Steel (NYSE:WS) Hits New 52-Week High – Time to Buy?

Worthington Steel, Inc. (NYSE:WS) hit a new 52-week high during trading on Wednesday . The company traded as high as $42.92 and last traded at $42.92, with a volume of 3371 shares trading hands. The stock had previously closed at $39.37.

Worthington Steel Price Performance

The business has a 50 day simple moving average of $35.00 and a 200 day simple moving average of $33.91. The stock has a market cap of $2.29 billion and a PE ratio of 18.15.

Worthington Steel (NYSE:WS) last issued its earnings results on Wednesday, September 25th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The firm had revenue of $834.00 million for the quarter, compared to the consensus estimate of $748.40 million. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Worthington Steel, Inc. will post 2.95 earnings per share for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.42%. Worthington Steel’s dividend payout ratio (DPR) is presently 25.81%.

Institutional Trading of Worthington Steel

Large investors have recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of Worthington Steel by 845.4% during the 2nd quarter. CWM LLC now owns 1,021 shares of the company’s stock worth $34,000 after acquiring an additional 913 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Worthington Steel during the 1st quarter valued at approximately $37,000. GAMMA Investing LLC boosted its stake in Worthington Steel by 153.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,255 shares of the company’s stock valued at $43,000 after purchasing an additional 759 shares during the period. nVerses Capital LLC bought a new stake in Worthington Steel during the 3rd quarter valued at approximately $71,000. Finally, Eastern Bank bought a new stake in Worthington Steel during the 3rd quarter valued at approximately $99,000. 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.