Worthington Steel, Inc. (WS) To Go Ex-Dividend on December 14th

Worthington Steel, Inc. (NYSE:WS) announced a quarterly dividend on Tuesday, October 6th. Stockholders of record on Monday, December 14th will be paid a dividend of $0.16 per share on Monday, December 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, December 14th.

Worthington Steel Stock Performance

Shares of Worthington Steel stock opened at $35.67 on Thursday. The stock’s fifty day moving average is $35.68 and its two-hundred day moving average is $36.36. The company has a market capitalization of $1.82 billion, a PE ratio of -58.47 and a beta of 2.24. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 0.04. Worthington Steel has a 52 week low of $27.22 and a 52 week high of $49.17.

Worthington Steel (NYSE:WS) last issued its earnings results on Tuesday, October 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.59). Worthington Steel had a negative net margin of 0.56% and a positive return on equity of 8.09%. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The firm’s revenue for the quarter was up 212.4% compared to the same quarter last year. As a group, analysts expect that Worthington Steel will post 4.29 earnings per share for the current year.

Institutional Investors Weigh In On Worthington Steel

Institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its position in Worthington Steel by 1,239.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock worth $26,000 after acquiring an additional 694 shares during the last quarter. Strs Ohio raised its holdings in Worthington Steel by 5.9% in the 1st quarter. Strs Ohio now owns 21,600 shares of the company’s stock valued at $656,000 after acquiring an additional 1,200 shares during the last quarter. Bank of America Corp DE lifted its stake in Worthington Steel by 1.8% in the 1st quarter. Bank of America Corp DE now owns 85,083 shares of the company’s stock worth $2,582,000 after purchasing an additional 1,501 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Worthington Steel during the 2nd quarter worth approximately $51,000. Finally, OP Asset Management Ltd acquired a new position in shares of Worthington Steel during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

Worthington Steel Company Profile

Worthington Steel, Inc is a steel processing company that produces value-added flat-rolled steel products for manufacturers in the automotive, construction, energy, industrial and consumer markets. Its offerings include electrical steel, laser-welded and tailor-welded blanks, and other processed steel products designed to meet specific customer requirements.

The company provides services such as slitting, blanking, cold reduction, welding and other steel processing capabilities. Its products are used in applications including automotive components, electrical motors and transformers, building products, pressure vessels and industrial equipment.

Worthington Steel was separated from Worthington Industries as an independent public company in December 2023.