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

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, December 17th,RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.17 per share by the industrial products company on Friday, March 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.61%.

Worthington Enterprises has raised its dividend 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 Trading Up 10.3 %

NYSE WOR opened at $42.14 on Thursday. The firm has a market capitalization of $2.12 billion, a PE ratio of 55.45 and a beta of 1.26. The stock’s 50 day moving average is $40.33 and its 200 day moving average is $44.36. Worthington Enterprises has a twelve month low of $37.88 and a twelve month high of $69.96. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The firm had revenue of $274.05 million for the quarter, compared to analysts’ expectations of $273.77 million. During the same quarter in the previous year, the business posted $0.78 EPS. The company’s quarterly revenue was down 8.1% on a year-over-year basis.

Analysts Set New Price Targets

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

Insider Transactions at Worthington Enterprises

In other news, CFO Joseph B. Hayek purchased 2,500 shares of the business’s stock in a transaction on Friday, October 11th. The stock was acquired at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the acquisition, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This represents a 1.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.50% of the company’s stock.

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.