Worthington Enterprises, Inc. (WOR) To Go Ex-Dividend on June 15th

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, March 24th. Shareholders of record on Monday, June 15th will be given a dividend of 0.19 per share by the industrial products company on Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, June 15th.

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. Equities research analysts expect Worthington Enterprises to earn $3.92 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 19.4%.

Worthington Enterprises Price Performance

WOR stock opened at $59.81 on Friday. The firm’s 50-day moving average price is $55.30 and its two-hundred day moving average price is $54.37. Worthington Enterprises has a 12-month low of $45.01 and a 12-month high of $70.91. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 26.58 and a beta of 1.28. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.31.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. The firm had revenue of $378.68 million for the quarter, compared to analysts’ expectations of $349.41 million. During the same quarter in the previous year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, equities analysts predict that Worthington Enterprises will post 3.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Monday, April 20th. Canaccord Genuity Group restated a “buy” rating and issued a $69.00 price objective on shares of Worthington Enterprises in a research report on Thursday, March 26th. Finally, Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.