Worthington Industries, Inc. (NYSE:WOR) Plans Quarterly Dividend of $0.21

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Worthington Industries, Inc. (NYSE:WOR) declared a quarterly dividend on Wednesday, March 28th, RTT News reports. Investors of record on Friday, June 15th will be given a dividend of 0.21 per share by the industrial products company on Friday, June 29th. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, June 14th.

Worthington Industries has raised its dividend payment by an average of 7.5% per year over the last three years and has raised its dividend every year for the last 7 years. Worthington Industries has a payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Worthington Industries to earn $3.39 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 24.8%.

Worthington Industries opened at $46.70 on Wednesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.05. Worthington Industries has a 1-year low of $39.52 and a 1-year high of $53.27. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08.

Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Thursday, March 29th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.14). The company had revenue of $841.66 million during the quarter, compared to analyst estimates of $863.50 million. Worthington Industries had a net margin of 6.47% and a return on equity of 17.05%. The business’s revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. analysts anticipate that Worthington Industries will post 3.04 earnings per share for the current fiscal year.

In related news, VP Catherine M. Lyttle sold 34,500 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $40.65, for a total transaction of $1,402,425.00. Following the completion of the sale, the vice president now directly owns 32,059 shares of the company’s stock, valued at approximately $1,303,198.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Endres purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 4th. The shares were acquired at an average cost of $39.78 per share, with a total value of $119,340.00. Following the completion of the transaction, the director now owns 187,440 shares in the company, valued at approximately $7,456,363.20. The disclosure for this purchase can be found here. Insiders own 31.30% of the company’s stock.

WOR has been the subject of several research reports. ValuEngine upgraded Worthington Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th. Jefferies Financial Group restated a “hold” rating and set a $45.00 price objective on shares of Worthington Industries in a research report on Friday, March 30th. Finally, Zacks Investment Research downgraded Worthington Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th.

About Worthington Industries

Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.

Dividend History for Worthington Industries (NYSE:WOR)

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