Worthington Enterprises, Inc. (WOR) to Issue Quarterly Dividend of $0.19 on March 27th

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, December 16th. Investors of record on Friday, March 13th will be given a dividend of 0.19 per share by the industrial products company on Friday, March 27th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, March 13th.

Worthington Enterprises has decreased its dividend by an average of 0.1%annually over the last three years. Worthington Enterprises has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Worthington Enterprises to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 24.7%.

Worthington Enterprises Stock Down 1.3%

WOR opened at $49.57 on Wednesday. Worthington Enterprises has a twelve month low of $39.05 and a twelve month high of $70.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.26 and a current ratio of 3.26. The firm has a market cap of $2.46 billion, a P/E ratio of 23.38 and a beta of 1.32. The business has a 50 day moving average price of $54.81 and a 200 day moving average price of $56.42.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, December 16th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. The firm had revenue of $327.45 million for the quarter, compared to the consensus estimate of $310.60 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts forecast that Worthington Enterprises will post 2.67 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on WOR shares. Canaccord Genuity Group dropped their price objective on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Wall Street Zen upgraded shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.00.

Worthington Enterprises Company Profile

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.