Worthington Enterprises, Inc. (NYSE:WOR) Announces $0.17 Quarterly Dividend

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, September 24th,RTT News reports. Investors of record on Friday, December 13th will be paid a dividend of 0.17 per share by the industrial products company on Friday, December 27th. This represents a $0.68 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, December 13th.

Worthington Enterprises has increased its dividend payment by an average of 8.7% per year over the last three years. Worthington Enterprises has a dividend payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings.

Worthington Enterprises Price Performance

Shares of WOR traded up $0.34 during mid-day trading on Wednesday, hitting $41.25. The company’s stock had a trading volume of 5,247 shares, compared to its average volume of 271,787. The firm has a market capitalization of $2.07 billion, a P/E ratio of 53.83 and a beta of 1.26. Worthington Enterprises has a 1-year low of $38.24 and a 1-year high of $69.96. The firm has a 50-day simple moving average of $40.51 and a 200 day simple moving average of $44.99. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, September 24th. The industrial products company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The firm had revenue of $257.31 million for the quarter, compared to analysts’ expectations of $296.05 million. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The business’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 earnings per share.

Insider Buying and Selling at Worthington Enterprises

In other news, CFO Joseph B. Hayek bought 2,500 shares of the business’s stock in a transaction on Friday, October 11th. The shares were bought at an average cost of $40.21 per share, with a total value of $100,525.00. Following the purchase, the chief financial officer now directly owns 168,875 shares in the company, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WOR shares. Canaccord Genuity Group decreased their price target on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Canaccord Genuity Group restated a “hold” rating and set a $46.00 price objective on shares of Worthington Enterprises in a research note on Friday, October 4th. Finally, StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th.

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.