Worthington Steel (NYSE:WS) Sets New 12-Month High – Still a Buy?

Worthington Steel, Inc. (NYSE:WS) shares reached a new 52-week high on Thursday . The stock traded as high as $38.61 and last traded at $38.5650, with a volume of 85133 shares traded. The stock had previously closed at $37.40.

Wall Street Analyst Weigh In

Several research firms have recently commented on WS. Wall Street Zen raised Worthington Steel from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Steel in a research report on Wednesday, October 8th. Zacks Research downgraded Worthington Steel from a “hold” rating to a “strong sell” rating in a research note on Monday, December 22nd. Finally, KeyCorp increased their target price on Worthington Steel from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Worthington Steel has an average rating of “Hold” and a consensus target price of $39.00.

Worthington Steel Price Performance

The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 21.74 and a beta of 1.69. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $34.54 and a 200 day simple moving average of $32.67.

Worthington Steel (NYSE:WS) last issued its earnings results on Friday, December 19th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $871.90 million during the quarter, compared to analyst estimates of $797.25 million. Worthington Steel had a net margin of 3.83% and a return on equity of 10.70%. Worthington Steel’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. On average, equities research analysts forecast that Worthington Steel, Inc. will post 2.26 EPS for the current fiscal year.

Worthington Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. Worthington Steel’s dividend payout ratio (DPR) is 35.96%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Worthington Steel during the 2nd quarter worth about $25,000. AlphaQuest LLC acquired a new position in Worthington Steel in the second quarter worth approximately $34,000. GAMMA Investing LLC raised its position in Worthington Steel by 57.1% during the second quarter. GAMMA Investing LLC now owns 1,219 shares of the company’s stock valued at $36,000 after acquiring an additional 443 shares in the last quarter. MAI Capital Management lifted its stake in Worthington Steel by 39.8% in the third quarter. MAI Capital Management now owns 1,404 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in Worthington Steel in the second quarter worth approximately $52,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.

Worthington Steel Company Profile

Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.