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

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

Worthington Steel Stock Down 0.4%

Shares of WS stock opened at $39.59 on Thursday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 23.29 and a beta of 2.22. Worthington Steel has a one year low of $25.33 and a one year high of $49.17. The company’s fifty day moving average price is $39.53 and its 200-day moving average price is $38.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.48 and a quick ratio of 0.90.

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

Analyst Ratings Changes

Several equities analysts have recently commented on WS shares. Wall Street Zen downgraded Worthington Steel from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research report on Monday, April 20th. Zacks Research raised Worthington Steel from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, KeyCorp boosted their price target on Worthington Steel from $38.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.00.

Worthington Steel Company Profile

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.