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

Worthington Steel, Inc. (NYSE:WS) announced a quarterly dividend on Wednesday, June 24th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.16 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 15th.

Worthington Steel Stock Performance

Shares of Worthington Steel stock opened at $39.59 on Thursday. Worthington Steel has a 52 week low of $25.33 and a 52 week high of $49.17. The company has a 50 day moving average price of $39.53 and a 200 day moving average price of $38.27. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.01 billion, a P/E ratio of 23.29 and a beta of 2.22.

Worthington Steel (NYSE:WS) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $929.20 million for the quarter, compared to analyst estimates of $992.00 million. Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. Sell-side analysts expect that Worthington Steel will post 2.15 EPS for the current year.

Insider Buying and Selling at Worthington Steel

In other news, CFO Timothy A. Adams sold 2,367 shares of Worthington Steel stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $42.27, for a total transaction of $100,053.09. Following the completion of the transaction, the chief financial officer directly owned 44,098 shares of the company’s stock, valued at $1,864,022.46. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey R. Klingler sold 20,036 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $43.82, for a total transaction of $877,977.52. Following the sale, the chief operating officer directly owned 93,212 shares in the company, valued at $4,084,549.84. This trade represents a 17.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 33,708 shares of company stock valued at $1,431,830. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Worthington Steel by 14.8% during the 1st quarter. Royal Bank of Canada now owns 15,771 shares of the company’s stock valued at $399,000 after acquiring an additional 2,038 shares during the period. AQR Capital Management LLC raised its holdings in Worthington Steel by 89.4% in the 1st quarter. AQR Capital Management LLC now owns 50,634 shares of the company’s stock worth $1,269,000 after purchasing an additional 23,899 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Worthington Steel by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,346 shares of the company’s stock worth $490,000 after purchasing an additional 841 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Worthington Steel in the second quarter valued at approximately $670,000. Finally, First Trust Advisors LP grew its holdings in Worthington Steel by 3.9% in the second quarter. First Trust Advisors LP now owns 127,877 shares of the company’s stock valued at $3,815,000 after purchasing an additional 4,756 shares during the period. Institutional investors and hedge funds 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.