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

Worthington Steel, Inc. (NYSE:WS - Get Free Report) declared a quarterly dividend on Thursday, June 26th, Wall Street Journal reports. Stockholders of record on Friday, September 12th will be given a dividend of 0.16 per share on Friday, September 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, September 12th.

Worthington Steel Price Performance

WS traded up $5.23 during trading on Thursday, reaching $31.49. 1,023,893 shares of the stock traded hands, compared to its average volume of 256,895. The stock's 50-day simple moving average is $25.80 and its two-hundred day simple moving average is $28.04. Worthington Steel has a fifty-two week low of $21.30 and a fifty-two week high of $47.19. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 14.71 and a beta of 1.64.

Worthington Steel (NYSE:WS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.22. The company had revenue of $832.90 million during the quarter, compared to the consensus estimate of $800.45 million. Worthington Steel had a return on equity of 9.58% and a net margin of 3.41%. The business's quarterly revenue was down 8.6% on a year-over-year basis. During the same period last year, the business earned $1.06 EPS. Research analysts anticipate that Worthington Steel will post 2.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Worthington Steel

Several hedge funds have recently bought and sold shares of WS. AQR Capital Management LLC lifted its position in shares of Worthington Steel by 89.4% in the first quarter. AQR Capital Management LLC now owns 50,634 shares of the company's stock worth $1,269,000 after buying an additional 23,899 shares during the last quarter. Royal Bank of Canada lifted its holdings in Worthington Steel by 14.8% in the 1st quarter. Royal Bank of Canada now owns 15,771 shares of the company's stock worth $399,000 after purchasing an additional 2,038 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Worthington Steel by 4.5% in the 1st 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 during the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, KeyCorp reduced their target price on shares of Worthington Steel from $41.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, March 7th.

Worthington Steel Company Profile

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.

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