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

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, March 25th, RTT News reports. Stockholders of record on Friday, June 13th will be given a dividend of 0.17 per share by the industrial products company on Friday, June 27th. This represents a $0.68 annualized dividend and a dividend yield of 1.63%.

Worthington Enterprises has decreased its dividend by an average of 15.4% per year over the last three years. Worthington Enterprises has a dividend payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Worthington Enterprises to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.1%.

Worthington Enterprises Price Performance

NYSE WOR traded up $0.70 during trading on Tuesday, hitting $41.73. 500,943 shares of the stock traded hands, compared to its average volume of 268,866. The firm has a 50-day simple moving average of $41.82 and a 200-day simple moving average of $41.31. Worthington Enterprises has a 12-month low of $37.88 and a 12-month high of $65.34. The company has a quick ratio of 2.50, a current ratio of 3.56 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $2.09 billion, a P/E ratio of 50.28 and a beta of 1.21.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.18. The business had revenue of $304.52 million for the quarter, compared to the consensus estimate of $289.09 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. As a group, analysts predict that Worthington Enterprises will post 2.67 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WOR. Canaccord Genuity Group increased their target price on Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.00.

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.