Worthington Enterprises, Inc. (WOR) to Issue Quarterly Dividend of $0.20 on September 29th

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, June 23rd. Stockholders of record on Tuesday, September 15th will be given 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 1.4%. The ex-dividend date of this dividend 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 22.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Worthington Enterprises to earn $4.31 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 18.6%.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $57.09 on Friday. The firm has a market capitalization of $2.79 billion, a PE ratio of 18.18 and a beta of 1.30. The stock’s fifty day moving average is $57.02 and its 200 day moving average is $55.38. Worthington Enterprises has a fifty-two week low of $45.01 and a fifty-two week high of $65.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data 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). Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The firm had revenue of $371.46 million for the quarter, compared to analysts’ expectations of $386.49 million. During the same period in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Worthington Enterprises will post 3.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Canaccord Genuity Group reduced their price objective on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Worthington Enterprises has an average rating of “Moderate Buy” and an average price target of $65.50.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc (NYSE: WOR) is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.