Worthington Steel, Inc. (WS) To Go Ex-Dividend on June 12th

Worthington Steel, Inc. (NYSE:WS) announced a quarterly dividend on Wednesday, March 25th. Investors of record on Friday, June 12th will be paid a dividend of 0.16 per share on Friday, June 26th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, June 12th.

Worthington Steel Trading Up 1.0%

Shares of Worthington Steel stock opened at $41.98 on Wednesday. The firm has a market capitalization of $2.13 billion, a PE ratio of 24.69 and a beta of 2.22. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $37.51 and its 200 day moving average is $37.72. Worthington Steel has a 1 year low of $24.23 and a 1 year high of $49.17.

Worthington Steel (NYSE:WS) last announced its quarterly earnings results on Thursday, March 26th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.20). Worthington Steel had a net margin of 3.64% and a return on equity of 10.12%. The company had revenue of $769.80 million for the quarter, compared to the consensus estimate of $882.95 million. During the same period last year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Worthington Steel will post 2.15 earnings per share for the current fiscal year.

Insider Transactions at Worthington Steel

In other news, COO Jeffrey R. Klingler sold 20,036 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $43.82, for a total value of $877,977.52. Following the transaction, the chief operating officer owned 93,212 shares in the company, valued at approximately $4,084,549.84. The trade was a 17.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clifford Larivey sold 11,105 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $40.09, for a total transaction of $445,199.45. Following the completion of the transaction, the insider owned 64,308 shares in the company, valued at $2,578,107.72. This trade represents a 14.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 33,708 shares of company stock worth $1,431,830. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its position in shares of Worthington Steel by 1,239.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 750 shares of the company’s stock valued at $26,000 after acquiring an additional 694 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Worthington Steel by 56.4% during the 4th quarter. Hantz Financial Services Inc. now owns 910 shares of the company’s stock valued at $32,000 after acquiring an additional 328 shares during the period. MAI Capital Management lifted its position in shares of Worthington Steel by 39.8% during the 3rd quarter. MAI Capital Management now owns 1,404 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares during the period. Torren Management LLC acquired a new position in shares of Worthington Steel during the 4th quarter valued at $48,000. Finally, OP Asset Management Ltd acquired a new position in shares of Worthington Steel during the 1st quarter valued at $49,000. Institutional investors and hedge funds own 45.41% of the company’s stock.

About Worthington Steel

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.