Worthington Enterprises, Inc. (NYSE:WOR) to Issue Dividend Increase – $0.20 Per Share

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, June 23rd. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.20 per share by the industrial products company on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 15th. This is a 5.3% increase from Worthington Enterprises’s previous quarterly dividend of $0.19.

Worthington Enterprises has decreased its dividend payment by an average of 0.1%per year 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

Shares of WOR stock opened at $61.11 on Wednesday. The firm’s 50 day moving average price is $56.26 and its two-hundred day moving average price is $54.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36. Worthington Enterprises has a 52-week low of $45.01 and a 52-week high of $70.91. The stock has a market cap of $3.01 billion, a PE ratio of 27.16 and a beta of 1.28.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). The business had revenue of $371.46 million for the quarter, compared to the consensus estimate of $386.49 million. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. As a group, analysts forecast that Worthington Enterprises will post 3.41 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research note on Monday, April 20th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $69.00 price target on shares of Worthington Enterprises in a research note 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 equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average 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.