Worthington Steel, Inc. (NYSE:WS) Announces $0.16 Quarterly Dividend

Worthington Steel, Inc. (NYSE:WS) declared a quarterly dividend on Wednesday, March 25th. Shareholders of record on Friday, June 12th will be paid a dividend of 0.16 per share on Friday, June 26th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, June 12th.

Worthington Steel Price Performance

Shares of NYSE:WS opened at $34.90 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.80. Worthington Steel has a 52 week low of $21.30 and a 52 week high of $49.17. The firm has a market cap of $1.77 billion, a PE ratio of 19.61 and a beta of 1.62. The firm’s fifty day moving average is $40.19 and its 200-day moving average is $35.62.

Worthington Steel (NYSE:WS) last posted its quarterly earnings data on Thursday, March 26th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). The company had revenue of $769.80 million during the quarter, compared to analyst estimates of $882.95 million. Worthington Steel had a net margin of 3.83% and a return on equity of 10.70%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Sell-side analysts predict that Worthington Steel will post 2.26 earnings per share for the current year.

Insider Buying and Selling at Worthington Steel

In related news, Director Jon J. Bowsher purchased 2,500 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was purchased at an average cost of $40.15 per share, with a total value of $100,375.00. Following the completion of the purchase, the director owned 17,893 shares in the company, valued at approximately $718,403.95. This trade represents a 16.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott J. Kelly acquired 7,000 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were bought at an average cost of $39.11 per share, for a total transaction of $273,770.00. Following the transaction, the director directly owned 16,157 shares in the company, valued at approximately $631,900.27. This represents a 76.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Worthington Steel

Several hedge funds and other institutional investors have recently modified their holdings of WS. Rockefeller Capital Management L.P. raised its position in shares of 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 purchasing an additional 694 shares during the period. Hantz Financial Services Inc. raised its holdings in Worthington Steel by 56.4% during the fourth quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock worth $32,000 after buying an additional 328 shares during the last quarter. MAI Capital Management lifted its stake in shares of 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 buying an additional 400 shares in the last quarter. Torren Management LLC acquired a new position in shares of Worthington Steel during the fourth quarter valued at about $48,000. Finally, Caldwell Trust Co acquired a new position in shares of Worthington Steel during the second quarter valued at about $52,000. Institutional investors own 45.41% of the company’s stock.

About Worthington Steel

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.