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

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

Worthington Steel Stock Up 2.9%

Shares of Worthington Steel stock traded up $1.05 on Thursday, hitting $36.98. The company had a trading volume of 81,944 shares, compared to its average volume of 260,352. The firm has a market capitalization of $1.88 billion, a P/E ratio of 16.96 and a beta of 1.72. 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 current ratio of 1.66 and a quick ratio of 0.97. The stock has a 50-day moving average of $32.54 and a 200-day moving average of $31.31.

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

Institutional Trading of Worthington Steel

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. boosted its position in Worthington Steel by 695.6% during the third quarter. Alliancebernstein L.P. now owns 969,887 shares of the company’s stock valued at $29,475,000 after purchasing an additional 847,981 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Worthington Steel by 429.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 513,416 shares of the company’s stock worth $15,603,000 after purchasing an additional 416,509 shares in the last quarter. Nuveen LLC bought a new stake in shares of Worthington Steel during the 1st quarter worth approximately $8,901,000. American Century Companies Inc. boosted its holdings in shares of Worthington Steel by 966.1% in the 1st quarter. American Century Companies Inc. now owns 269,160 shares of the company’s stock valued at $6,818,000 after buying an additional 243,912 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in shares of Worthington Steel by 154.3% in the second quarter. Bridgeway Capital Management LLC now owns 340,752 shares of the company’s stock valued at $10,165,000 after buying an additional 206,752 shares in the last quarter. Institutional investors and hedge funds 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.