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

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, September 24th,RTT News reports. Shareholders of record on Friday, December 13th will be given 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 dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, December 13th.

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

Worthington Enterprises Stock Performance

Worthington Enterprises stock traded up $0.06 during mid-day trading on Wednesday, hitting $40.97. The company had a trading volume of 9,600 shares, compared to its average volume of 271,806. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 54.28 and a beta of 1.26. The company’s fifty day moving average is $40.51 and its 200-day moving average is $44.99. Worthington Enterprises has a 12-month low of $38.24 and a 12-month high of $69.96.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (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% on a year-over-year basis. During the same period last year, the company posted $2.06 earnings per share.

Analyst Ratings Changes

WOR has been the subject of several analyst reports. Canaccord Genuity Group dropped their target price on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, September 26th. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $46.00 target price on shares of Worthington Enterprises in a research note on Friday, October 4th.

Insider Buying and Selling

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

About Worthington Enterprises

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.