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

Worthington Steel, Inc. (NYSE:WS) announced a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, June 13th.

Worthington Steel Stock Performance

Shares of NYSE:WS traded up $1.05 on Thursday, reaching $27.93. The company’s stock had a trading volume of 679,993 shares, compared to its average volume of 230,613. The company has a 50-day simple moving average of $28.34 and a 200 day simple moving average of $34.12. Worthington Steel has a 52-week low of $24.22 and a 52-week high of $47.19. The company has a market cap of $1.42 billion, a P/E ratio of 9.80 and a beta of 2.62.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.32). The company had revenue of $687.40 million for the quarter, compared to analysts’ expectations of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The company’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. On average, equities research analysts forecast that Worthington Steel will post 2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, KeyCorp reduced their price objective on shares of Worthington Steel from $41.00 to $34.00 and set an “overweight” rating on the stock in a research report 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.