Worthington Steel, Inc. to Issue Quarterly Dividend of $0.16 (NYSE:WS)

Worthington Steel, Inc. (NYSE:WS) announced a quarterly dividend on Wednesday, December 17th. Investors of record on Friday, March 13th will be paid a dividend of 0.16 per share on Friday, March 27th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, March 13th.

Worthington Steel Stock Performance

NYSE:WS traded up $1.05 during mid-day trading on Thursday, hitting $36.98. The stock had a trading volume of 81,944 shares, compared to its average volume of 260,352. Worthington Steel has a twelve month low of $21.30 and a twelve month high of $38.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.97 and a current ratio of 1.66. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 16.96 and a beta of 1.72. The company’s 50 day simple moving average is $32.54 and its 200 day simple moving average is $31.31.

Worthington Steel (NYSE:WS) last released its quarterly earnings data on Wednesday, December 17th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Worthington Steel had a net margin of 3.80% and a return on equity of 10.11%. The business had revenue of $871.90 million during the quarter, compared to the consensus estimate of $797.25 million. During the same quarter in the prior year, the company earned $0.19 EPS. Worthington Steel’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities research analysts forecast that Worthington Steel will post 2.26 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Worthington Steel by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,529,470 shares of the company’s stock valued at $114,731,000 after acquiring an additional 62,042 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Worthington Steel by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,462,097 shares of the company’s stock worth $74,823,000 after purchasing an additional 32,717 shares in the last quarter. Alliancebernstein L.P. raised its stake in Worthington Steel by 695.6% in the 3rd quarter. Alliancebernstein L.P. now owns 969,887 shares of the company’s stock worth $29,475,000 after purchasing an additional 847,981 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Worthington Steel by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 802,320 shares of the company’s stock valued at $23,936,000 after purchasing an additional 7,060 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Worthington Steel by 51.3% during the 3rd quarter. American Century Companies Inc. now owns 609,810 shares of the company’s stock worth $18,532,000 after purchasing an additional 206,778 shares in the last quarter. Institutional investors own 45.41% of the company’s stock.

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.