Worthington Steel (NYSE:WS) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Worthington Steel (NYSE:WSGet Free Report) posted its earnings results on Thursday. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.19, Briefing.com reports. The firm had revenue of $805.80 million for the quarter, compared to analysts’ expectations of $664.80 million. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis.

Worthington Steel Stock Performance

Shares of WS opened at $35.37 on Friday. Worthington Steel has a 52-week low of $21.00 and a 52-week high of $40.15. The business’s fifty day simple moving average is $30.53.

Worthington Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.64 annualized dividend and a yield of 1.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Seaport Res Ptn reissued a “neutral” rating on shares of Worthington Steel in a research note on Monday, March 11th. KeyCorp assumed coverage on shares of Worthington Steel in a research note on Monday, December 4th. They issued an “overweight” rating and a $29.00 price target on the stock.

View Our Latest Report on Worthington Steel

Insiders Place Their Bets

In other news, Director Charles M. Chiappone purchased 1,850 shares of the stock in a transaction dated Friday, January 12th. The shares were purchased at an average price of $28.08 per share, with a total value of $51,948.00. Following the transaction, the director now owns 7,033 shares in the company, valued at approximately $197,486.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. purchased a new stake in Worthington Steel in the 4th quarter valued at about $113,286,000. Goldman Sachs Group Inc. purchased a new stake in Worthington Steel in the 4th quarter valued at about $11,187,000. Northern Trust Corp purchased a new stake in Worthington Steel in the 4th quarter valued at about $9,429,000. Nuveen Asset Management LLC purchased a new stake in Worthington Steel in the 4th quarter valued at about $5,291,000. Finally, FIL Ltd purchased a new stake in Worthington Steel in the 4th quarter valued at about $3,773,000.

Worthington Steel Company Profile

(Get Free Report)

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.

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