Worthington Enterprises, Inc. (NYSE:WOR) Plans Dividend Increase – $0.17 Per Share

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, June 25th, NASDAQ reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.17 per share by the industrial products company on Friday, September 27th. This represents a $0.68 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.16.

Worthington Enterprises has increased its dividend payment by an average of 8.7% per year over the last three years. Worthington Enterprises has a payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings.

Worthington Enterprises Price Performance

Shares of WOR stock opened at $43.36 on Thursday. Worthington Enterprises has a 12-month low of $36.29 and a 12-month high of $69.96. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 19.62 and a beta of 1.25. The company has a quick ratio of 2.86, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average of $45.92 and a 200-day moving average of $53.63.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.14). The firm had revenue of $318.80 million during the quarter, compared to analyst estimates of $352.82 million. Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. Worthington Enterprises’s quarterly revenue was down 13.6% on a year-over-year basis. During the same period last year, the firm earned $2.74 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WOR. Canaccord Genuity Group reduced their target price on shares of Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, June 27th. StockNews.com lowered Worthington Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group decreased their price target on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.33.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.