Worthington Industries said on March 22, 2023 that its board of directors declared a regular quarterly dividend of $0.31 per share ($1.24 annualized). Previously, the company paid $0.31 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on June 29, 2023.
At the current share price of $61.34 / share, the stock's dividend yield is 2.02%. Looking back five years and taking a sample every week, the average dividend yield has been 2.30%, the lowest has been 1.37%, and the highest has been 4.60%. The standard deviation of yields is 0.50 (n=235).
The current dividend yield is 0.57 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.29%, demonstrating that it has increased its dividend over time.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
Analyst Price Forecast Suggests 10.21% Downside
As of March 23, 2023, the average one-year price target for Worthington Industries is $55.08. The forecasts range from a low of $54.54 to a high of $56.70. The average price target represents a decrease of 10.21% from its latest reported closing price of $61.34.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Worthington Industries is $4,520MM, a decrease of 13.21%. The projected annual non-GAAP EPS is $4.03.
What is the Fund Sentiment?
There are 526 funds or institutions reporting positions in Worthington Industries. This is an increase of 15 owner(s) or 2.94% in the last quarter. Average portfolio weight of all funds dedicated to WOR is 0.14%, an increase of 42.12%. Total shares owned by institutions decreased in the last three months by 0.78% to 28,181K shares. The put/call ratio of WOR is 0.50, indicating a bullish outlook.
What are Large Shareholders Doing?
Victory Capital Management holds 1,749K shares representing 3.52% ownership of the company. In it's prior filing, the firm reported owning 1,870K shares, representing a decrease of 6.91%. The firm decreased its portfolio allocation in WOR by 27.90% over the last quarter.
Macquarie Group holds 1,739K shares representing 3.50% ownership of the company. In it's prior filing, the firm reported owning 1,836K shares, representing a decrease of 5.59%. The firm decreased its portfolio allocation in WOR by 57.19% over the last quarter.
DCCAX - Delaware Small Cap Core Fund holds 1,356K shares representing 2.73% ownership of the company. In it's prior filing, the firm reported owning 1,309K shares, representing an increase of 3.47%. The firm increased its portfolio allocation in WOR by 10.84% over the last quarter.
SSGSX - Victory Sycamore Small Company Opportunity Fund holds 1,155K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 1,200K shares, representing a decrease of 3.89%. The firm increased its portfolio allocation in WOR by 10.98% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 936K shares representing 1.88% ownership of the company. In it's prior filing, the firm reported owning 887K shares, representing an increase of 5.24%. The firm increased its portfolio allocation in WOR by 20.05% over the last quarter.
Worthington Industries Background Information
(This description is provided by the company.)
Worthington Industries is a leading industrial manufacturing company delivering innovative solutions to customers that span many industries including transportation, construction, industrial, agriculture, retail and energy. Worthington is North America's premier value-added steel processor and producer of laser welded products; and a leading global supplier of pressure cylinders and accessories for applications such as fuel storage, water systems, outdoor living, tools and celebrations. The Company's brands, primarily sold in retail stores, include Coleman®, Bernzomatic®, Balloon Time®, Mag Torch®, Well-X-Trol®, General®, Garden-Weasel®, Pactool International® and Hawkeye™. Worthington's WAVE joint venture with Armstrong is the North American leader in innovative ceiling solutions.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
