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

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 given 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 payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings.

Worthington Enterprises Stock Down 1.4 %

Worthington Enterprises stock opened at $38.13 on Wednesday. Worthington Enterprises has a twelve month low of $37.88 and a twelve month high of $69.96. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 50.17 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. The stock has a 50 day moving average of $40.28 and a two-hundred day moving average of $44.38.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CFO Joseph B. Hayek acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the transaction, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at approximately $6,790,463.75. This trade represents a 1.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 37.50% of the stock is currently owned by insiders.

Worthington Enterprises Company Profile

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.