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

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, March 25th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.63%.

Worthington Enterprises has decreased its dividend payment by an average of 15.4% per year over the last three years. Worthington Enterprises has a payout ratio of 22.7% meaning 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 Stock Up 1.7 %

Shares of Worthington Enterprises stock traded up $0.70 on Tuesday, hitting $41.73. The company had a trading volume of 500,943 shares, compared to its average volume of 268,866. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 50.28 and a beta of 1.21. The stock has a 50 day moving average of $41.82 and a 200-day moving average of $41.31. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $65.34.

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, topping analysts’ consensus estimates of $0.73 by $0.18. The firm had revenue of $304.52 million for the quarter, compared to the consensus estimate of $289.09 million. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, sell-side analysts forecast that Worthington Enterprises will post 2.67 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on WOR shares. Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group upped their price target on shares of Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.