Worthington Steel (NYSE:WS) Shares Down 5.7%

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

Analyst Ratings Changes

WS has been the subject of a number of analyst reports. KeyCorp boosted their price target on Worthington Steel from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Worthington Steel in a report on Monday, March 11th.

Worthington Steel Stock Performance

The stock has a 50-day moving average price of $32.50.

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

Worthington Steel Dividend Announcement

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

Hedge Funds Weigh In On Worthington Steel

Several institutional investors and hedge funds have recently bought and sold shares of WS. Cardinal Capital Management purchased a new stake in shares of Worthington Steel in the 1st quarter valued at approximately $439,000. PNC Financial Services Group Inc. purchased a new position in shares of Worthington Steel in the 4th quarter valued at $857,000. Vanguard Group Inc. purchased a new position in shares of Worthington Steel in the 4th quarter valued at $113,286,000. Fisher Asset Management LLC purchased a new position in shares of Worthington Steel in the 4th quarter valued at $2,563,000. Finally, Gerber LLC purchased a new position in shares of Worthington Steel in the 4th quarter valued at $906,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

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.