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

Key Points

• Worthington Enterprises, Inc. declared a quarterly dividend of $0.19 per share, payable on December 29th to investors of record on December 15th, reflecting a yield of 1.3%.
• The company's recent earnings show an EPS of $0.74, exceeding estimates, with an annual revenue increase of 18.0% from the previous year.
• Hedge funds currently own 51.59% of Worthington Enterprises, with significant increases in holdings reported by multiple institutional investors.

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) declared a quarterly dividend on Tuesday, September 23rd, RTT News reports. Investors of record on Monday, December 15th will be given a dividend of 0.19 per share by the industrial products company on Monday, December 29th. This represents a c) dividend on an annualized basis and a yield of 1.3%.

Worthington Enterprises has a payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Worthington Enterprises to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.1%.

Worthington Enterprises Price Performance

Shares of Worthington Enterprises stock traded down $0.68 during midday trading on Tuesday, hitting $60.35. 452,070 shares of the company traded hands, compared to its average volume of 215,534. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 31.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 3.48. The firm's fifty day moving average price is $63.71 and its 200-day moving average price is $57.50. Worthington Enterprises has a 12 month low of $37.88 and a 12 month high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its earnings results on Tuesday, September 23rd. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The company's quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, sell-side analysts forecast that Worthington Enterprises will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On Worthington Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in Worthington Enterprises by 693.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company's stock worth $39,000 after acquiring an additional 541 shares during the last quarter. ORG Partners LLC lifted its stake in Worthington Enterprises by 61.0% in the second quarter. ORG Partners LLC now owns 660 shares of the industrial products company's stock worth $43,000 after acquiring an additional 250 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Worthington Enterprises in the second quarter worth $46,000. Quarry LP purchased a new stake in Worthington Enterprises in the first quarter worth $49,000. Finally, State of Wyoming purchased a new stake in Worthington Enterprises in the fourth quarter worth $51,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

About Worthington Enterprises

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.

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