Worthington Steel, Inc. (WS) to Issue Quarterly Dividend of $0.16 on June 27th

Worthington Steel, Inc. (NYSE:WS) announced a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.16 per share on Friday, June 27th. This represents a $0.64 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Friday, June 13th.

Worthington Steel Price Performance

Shares of NYSE WS opened at $26.21 on Friday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 9.20 and a beta of 2.62. Worthington Steel has a 1-year low of $24.22 and a 1-year high of $47.19. The business has a fifty day moving average price of $28.23 and a 200 day moving average price of $34.01.

Worthington Steel (NYSE:WS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $0.35 EPS 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 analysts’ expectations of $732.00 million. Worthington Steel had a net margin of 4.36% and a return on equity of 12.59%. The business’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. As a group, equities research analysts anticipate that Worthington Steel will post 2.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, KeyCorp decreased their price objective on 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.