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

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, September 24th,RTT News reports. Stockholders 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 Price Performance

Shares of NYSE:WOR traded down $0.06 during trading on Wednesday, reaching $40.85. The stock had a trading volume of 17,819 shares, compared to its average volume of 271,827. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. The business has a fifty day moving average price of $40.51 and a 200-day moving average price of $44.99. The stock has a market cap of $2.05 billion, a PE ratio of 54.28 and a beta of 1.26. Worthington Enterprises has a 1-year low of $38.24 and a 1-year high of $69.96.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The company had revenue of $257.31 million for the quarter, compared to analyst estimates 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 firm posted $2.06 EPS.

Insider Activity at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek acquired 2,500 shares of the stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $40.21 per share, with a total value of $100,525.00. Following the transaction, the chief financial officer now owns 168,875 shares in the company, valued at $6,790,463.75. The trade was a 1.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $46.00 price target on shares of Worthington Enterprises in a research note on Friday, October 4th. Canaccord Genuity Group decreased their price target on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Finally, StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th.

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.