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

Worthington Enterprises, Inc. (NYSE:WOR – Get Free Report) declared a quarterly dividend on Tuesday, September 22nd. Investors of record on Tuesday, December 15th will be given a dividend of 0.20 per share by the industrial products company on Tuesday, December 29th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, December 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 22.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Worthington Enterprises to earn $4.20 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 19.0%.

Worthington Enterprises Price Performance

WOR opened at $59.63 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43. The stock’s 50 day simple moving average is $57.64 and its 200 day simple moving average is $55.52. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 18.01 and a beta of 1.30. Worthington Enterprises has a 1 year low of $45.01 and a 1 year high of $67.54.

Worthington Enterprises (NYSE:WOR – Get Free Report) last released its quarterly earnings data on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Worthington Enterprises had a return on equity of 16.92% and a net margin of 11.50%.The firm had revenue of $343.89 million during the quarter, compared to analyst estimates of $331.26 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, analysts predict that Worthington Enterprises will post 3.75 earnings per share for the current year.

Insider Activity at Worthington Enterprises

In other news, major shareholder John McConnell sold 17,625 shares of Worthington Enterprises stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total transaction of $934,830.00. Following the sale, the insider owned 1,335,648 shares of the company’s stock, valued at approximately $70,842,769.92. The trade was a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its position in shares of Worthington Enterprises by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 6,114 shares of the industrial products company’s stock valued at $315,000 after buying an additional 189 shares in the last quarter. Parallel Advisors LLC grew its position in Worthington Enterprises by 57.3% in the first quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 263 shares in the last quarter. Sei Investments Co. grew its position in Worthington Enterprises by 6.1% in the first quarter. Sei Investments Co. now owns 4,601 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 264 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Worthington Enterprises by 4.6% during the second quarter. Handelsbanken Fonder AB now owns 9,100 shares of the industrial products company’s stock worth $489,000 after acquiring an additional 400 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Worthington Enterprises by 872.0% during the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 436 shares during the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

About Worthington Enterprises

(Get Free Report)

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.

Further Reading

Dividend History for Worthington Enterprises (NYSE:WOR)

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