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

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, June 23rd. Shareholders 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) dividend on an annualized basis 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 by an average of 0.1%annually over the last three years. Worthington Enterprises has a dividend payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Worthington Enterprises to earn $4.30 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 17.7%.

Worthington Enterprises Price Performance

Shares of NYSE:WOR opened at $56.97 on Thursday. The firm has a market capitalization of $2.81 billion, a PE ratio of 18.14 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 has a 1-year low of $45.01 and a 1-year high of $70.91. The business’s 50 day moving average is $56.30 and its 200-day moving average is $54.63.

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). Worthington Enterprises had a return on equity of 17.02% and a net margin of 11.30%.The firm had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same period last year, the business earned $1.06 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. Sell-side analysts predict that Worthington Enterprises will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on WOR shares. Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $69.00 target price on shares of Worthington Enterprises in a research note on Thursday, March 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.00.

About Worthington Enterprises

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.