Worthington Steel (NYSE:WS) Trading Up 6.2% Following Dividend Announcement

Worthington Steel, Inc. (NYSE:WS) was up 6.2% on Friday after the company announced a dividend. The stock traded as high as $34.06 and last traded at $33.99. Approximately 55,679 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 221,756 shares. The stock had previously closed at $32.01.

The newly announced dividend which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, December 13th.

Worthington Steel Trading Up 3.4 %

The firm’s fifty day moving average price is $34.43 and its 200-day moving average price is $33.46.

Worthington Steel (NYSE:WS) last issued its quarterly earnings data on Wednesday, September 25th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $834.00 million for the quarter, compared to the consensus estimate of $748.40 million. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. Sell-side analysts expect that Worthington Steel, Inc. will post 2.95 EPS for the current year.

Institutional Investors Weigh In On Worthington Steel

A number of hedge funds and other institutional investors have recently modified their holdings of WS. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Worthington Steel during the fourth quarter valued at about $30,000. CWM LLC raised its position in Worthington Steel by 845.4% in the second quarter. CWM LLC now owns 1,021 shares of the company’s stock worth $34,000 after acquiring an additional 913 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Worthington Steel in the first quarter worth about $37,000. TFO Wealth Partners LLC bought a new stake in Worthington Steel in the fourth quarter worth about $50,000. Finally, SG Americas Securities LLC raised its position in Worthington Steel by 42.4% in the first quarter. SG Americas Securities LLC now owns 5,111 shares of the company’s stock worth $183,000 after acquiring an additional 1,522 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors.

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.