Worthington Industries, Inc. (NYSE:WOR) declared a quarterly dividend on Wednesday, September 26th, RTT News reports. Shareholders of record on Friday, December 14th will be given a dividend of 0.23 per share by the industrial products company on Friday, December 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, December 13th.
Worthington Industries has increased its dividend by an average of 7.5% per year over the last three years and has raised its dividend every year for the last 7 years. Worthington Industries has a payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Worthington Industries to earn $3.33 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 27.6%.
NYSE:WOR opened at $38.29 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.98 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 13.30 and a beta of 0.83. Worthington Industries has a fifty-two week low of $38.18 and a fifty-two week high of $49.93.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Wednesday, September 26th. The industrial products company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.02 by ($0.10). The company had revenue of $988.10 million for the quarter, compared to analyst estimates of $1.03 billion. Worthington Industries had a return on equity of 18.42% and a net margin of 5.49%. The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. As a group, equities research analysts predict that Worthington Industries will post 3.19 EPS for the current year.
A number of equities analysts have weighed in on WOR shares. Zacks Investment Research cut shares of Worthington Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. JPMorgan Chase & Co. reduced their price objective on shares of Worthington Industries from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, September 27th. Jefferies Financial Group reduced their price objective on shares of Worthington Industries from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Thursday, September 27th. Finally, ValuEngine upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th.
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About Worthington Industries
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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