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

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

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

Worthington Enterprises Price Performance

WOR traded up $0.08 during midday trading on Wednesday, hitting $40.99. 22,197 shares of the company traded hands, compared to its average volume of 271,848. The business has a 50 day simple moving average of $40.51 and a two-hundred day simple moving average of $44.99. Worthington Enterprises has a 52-week low of $38.24 and a 52-week high of $69.96. 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 has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The firm had revenue of $257.31 million during the quarter, compared to analyst estimates of $296.05 million. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The company’s quarterly revenue was down 17.5% on a year-over-year basis.

Analysts Set New Price Targets

A number of research analysts have weighed in on WOR shares. Canaccord Genuity Group restated a “hold” rating and issued a $46.00 price objective on shares of Worthington Enterprises in a report on Friday, October 4th. Canaccord Genuity Group decreased their price target on shares of 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 shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th.

Insiders Place Their Bets

In other Worthington Enterprises news, CFO Joseph B. Hayek bought 2,500 shares of the business’s stock in a transaction on Friday, October 11th. The stock was bought at an average price of $40.21 per share, with a total value of $100,525.00. Following the completion of the purchase, the chief financial officer now directly owns 168,875 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Corporate 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.