Worthington Enterprises, Inc. (NYSE:WOR) Plans Quarterly Dividend of $0.19

Worthington Enterprises, Inc. (NYSE:WOR) announced a quarterly dividend on Tuesday, March 24th. Shareholders of record on Monday, June 15th will be given a dividend of 0.19 per share by the industrial products company on Monday, June 29th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, June 15th.

Worthington Enterprises has decreased its dividend payment 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 $3.08 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 24.7%.

Worthington Enterprises Stock Performance

Worthington Enterprises stock traded down $3.47 during mid-day trading on Wednesday, reaching $48.41. 51,966 shares of the company traded hands, compared to its average volume of 173,249. The firm’s fifty day moving average is $54.00 and its two-hundred day moving average is $55.20. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 22.61 and a beta of 1.32. Worthington Enterprises has a fifty-two week low of $43.35 and a fifty-two week high of $70.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.26.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. The business had revenue of $378.68 million during the quarter, compared to the consensus estimate of $349.41 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities research analysts expect that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WOR. Rockefeller Capital Management L.P. grew its position in shares of Worthington Enterprises by 823.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 757 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 675 shares in the last quarter. Corient Private Wealth LLC lifted its position in Worthington Enterprises by 21.3% during the fourth quarter. Corient Private Wealth LLC now owns 12,190 shares of the industrial products company’s stock worth $629,000 after buying an additional 2,138 shares in the last quarter. Mariner Investment Group LLC acquired a new position in Worthington Enterprises during the fourth quarter worth $216,000. Mercer Global Advisors Inc. ADV purchased a new stake in Worthington Enterprises in the 4th quarter valued at $240,000. Finally, Summit Global Investments purchased a new stake in Worthington Enterprises in the 4th quarter valued at $963,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.