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

Worthington Steel, Inc. (NYSE:WS) declared a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Stockholders of record on Friday, June 13th will be paid a dividend of 0.16 per share on Friday, June 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, June 13th.

Worthington Steel Stock Up 3.9 %

WS traded up $1.05 during midday trading on Thursday, hitting $27.93. 679,993 shares of the company traded hands, compared to its average volume of 230,613. The company’s 50-day moving average is $28.34 and its 200 day moving average is $34.12. The firm has a market capitalization of $1.42 billion, a PE ratio of 9.80 and a beta of 2.62. Worthington Steel has a 52 week low of $24.22 and a 52 week high of $47.19.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.32). The firm had revenue of $687.40 million for the quarter, compared to the consensus estimate of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. Worthington Steel’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. On average, sell-side analysts predict that Worthington Steel will post 2.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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 report on Friday, March 7th.

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.