Short Interest in Worthington Steel, Inc. (NYSE:WS) Drops By 18.4%
Worthington Steel, Inc. (NYSE:WS – Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 470,300 shares, a drop of 18.4% from the March 15th total of 576,500 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 248,600 shares, the days-to-cover ratio is presently 1.9 days.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on WS shares. Seaport Res Ptn reiterated a “neutral” rating on shares of Worthington Steel in a research report on Monday, March 11th. KeyCorp lifted their target price on Worthington Steel from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd.
Worthington Steel Stock Down 1.1 %
WS stock opened at $34.81 on Monday. The company has a 50-day moving average price of $32.39. Worthington Steel has a 1-year low of $21.00 and a 1-year high of $40.15.
Worthington Steel (NYSE:WS – Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $664.80 million. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Worthington Steel will post 2.92 EPS for the current fiscal year.
Worthington Steel Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.64 annualized dividend and a dividend yield of 1.84%.
Institutional Trading of Worthington Steel
Institutional investors and hedge funds have recently made changes to their positions in the company. Key Financial Inc bought a new stake in shares of Worthington Steel in the fourth quarter valued at about $28,000. Bartlett & CO. Wealth Management LLC purchased a new position in Worthington Steel in the fourth quarter valued at about $30,000. Clean Yield Group purchased a new position in Worthington Steel in the fourth quarter valued at about $34,000. Public Employees Retirement Association of Colorado purchased a new position in Worthington Steel in the fourth quarter valued at about $48,000. Finally, TFO Wealth Partners LLC purchased a new position in Worthington Steel in the fourth quarter valued at about $50,000. 45.41% of the stock is currently owned by institutional investors.
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.
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