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

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, June 25th, NASDAQ reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.17 per share by the industrial products company on Friday, September 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, September 13th. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.16.

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 21.3% indicating that its dividend is sufficiently covered by earnings.

Worthington Enterprises Stock Down 2.3 %

Shares of Worthington Enterprises stock traded down $0.98 during trading on Wednesday, reaching $41.71. The company’s stock had a trading volume of 20,325 shares, compared to its average volume of 273,936. The company has a 50-day simple moving average of $45.98 and a two-hundred day simple moving average of $53.70. Worthington Enterprises has a 1-year low of $36.29 and a 1-year high of $69.96. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 18.84 and a beta of 1.25. The company has a quick ratio of 2.86, a current ratio of 3.78 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.14). The business had revenue of $318.80 million during the quarter, compared to analyst estimates of $352.82 million. Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. Worthington Enterprises’s revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.74 EPS.

Analyst Ratings Changes

WOR has been the subject of several research reports. StockNews.com downgraded shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, June 26th. Canaccord Genuity Group reduced their price objective on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, June 27th. Finally, The Goldman Sachs Group decreased their target price on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.33.

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.