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

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, December 17th,RTT News reports. Investors of record on Friday, March 14th will be paid a dividend of 0.17 per share by the industrial products company on Friday, March 28th. This represents a $0.68 annualized dividend and a yield of 1.78%.

Worthington Enterprises has raised its dividend payment by an average of 8.7% annually 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 Stock Performance

Shares of NYSE:WOR traded down $0.48 during trading hours on Tuesday, hitting $38.20. The stock had a trading volume of 375,790 shares, compared to its average volume of 272,687. 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 stock’s fifty day simple moving average is $40.35 and its 200 day simple moving average is $44.51. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 50.89 and a beta of 1.26. Worthington Enterprises has a 1-year low of $37.88 and a 1-year high of $69.96.

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

Analyst Ratings Changes

Several research firms have recently weighed in on WOR. Canaccord Genuity Group reissued a “hold” rating and set a $46.00 price objective on shares of Worthington Enterprises in a research note on Friday, October 4th. Canaccord Genuity Group cut their target price 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 Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th.

Insider Transactions at Worthington Enterprises

In related news, CFO Joseph B. Hayek purchased 2,500 shares of the stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost 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 in the company, valued at approximately $6,790,463.75. The trade was a 1.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.50% of the stock is owned by 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.