Worthington Steel (NYSE:WS) Sees Stock Price Fluctuations

Highlights

• UBS AM reduced its position in Worthington Steel by 21.7%.
• The company’s stock has seen a 1-year high of $47.19.
• Worthington Steel announced a quarterly dividend payment for December 27th.

Worthington Steel Inc. has recently seen a decrease in its position held by UBS Asset Management. The company, operating in the steel processing sector, continues to be a key player within the NYSE Metal and Mining Stocks sector. Its performance, including quarterly earnings and dividend announcements, remains closely watched by market participants..

UBS AM Reduces Stake in Worthington Steel

UBS Asset Management Americas LLC, operating under UBS AM, reduced its position in Worthington Steel, Inc. (NYSE:WS) by 21.7% during the third quarter, according to its most recent SEC filing. UBS AM now holds 48,310 shares of the steel processor, following the sale of 13,419 shares. Despite the decrease in stake, UBS AM still holds a significant interest in the company, representing approximately 0.10% of Worthington Steel's total shares, with a reported value of $1.64 million.

Worthington Steel's Recent Performance and Dividend Update

Worthington Steel opened at $41.06 on Tuesday, reflecting a steady performance in the market. The company’s stock has fluctuated between a one-year low of $23.82 and a high of $47.19, demonstrating notable growth. Its 50-day moving average price is currently at $40.77, while the 200-day moving average price stands at $36.13, indicating a relatively strong position over the longer term.

Worthington Steel recently released its quarterly earnings report for the period ending September 25th. The company reported earnings of $0.56 per share, surpassing the analyst expectations of $0.55. However, the company’s revenue for the quarter saw a 7.9% decline year-over-year, amounting to $834 million. Despite the drop in revenue, Worthington Steel maintained a net margin of 3.71% and a return on equity of 12.14%, reflecting its operational efficiency.

Strong Dividend Yield and Payout Ratio

In addition to its financial performance, Worthington Steel also announced a quarterly dividend payment to shareholders, set for December 27th. The dividend, amounting to $0.16 per share, provides an annual yield of 1.56%. The ex-dividend date was December 13th, and the payout ratio stands at a modest 25.81%, suggesting the company is maintaining a conservative dividend policy while balancing reinvestment in its operations.

Steel Processing Operations and Market Focus

Worthington Steel operates primarily as a steel processor in North America, catering to various industries including automotive, heavy truck, agriculture, construction, and energy. The company offers a range of products, including carbon flat-rolled steel, tailor welded blanks, electrical steel laminations, and aluminum tailor welded blanks. As a major supplier in the steel industry, Worthington Steel continues to support the manufacturing and infrastructure sectors with its wide array of steel processing services.