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

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, June 23rd. Shareholders 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 1.3%. 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%per year over the last three years. Worthington Enterprises has a payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE:WOR opened at $61.11 on Wednesday. Worthington Enterprises has a 52 week low of $45.01 and a 52 week high of $70.91. The company has a fifty day simple moving average of $56.26 and a two-hundred day simple moving average of $54.62. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 27.16 and a beta of 1.28.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in Worthington Enterprises by 872.0% in the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 436 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Worthington Enterprises in the first quarter valued at approximately $25,000. McMillan Office Inc. acquired a new stake in Worthington Enterprises during the fourth quarter worth approximately $31,000. Farther Finance Advisors LLC raised its holdings in Worthington Enterprises by 81.3% during the fourth quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 304 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Worthington Enterprises by 57.3% during the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock worth $38,000 after buying an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

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.