Worthington Enterprises, Inc. (NYSE:WOR) Sees Large Decrease in Short Interest

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,220,000 shares, a decline of 17.6% from the March 31st total of 1,480,000 shares. Based on an average trading volume of 297,200 shares, the days-to-cover ratio is currently 4.1 days. Currently, 3.9% of the company's stock are short sold.

Insider Buying and Selling at Worthington Enterprises

In other Worthington Enterprises news, Director Michael J. Endres sold 66,000 shares of Worthington Enterprises stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $64.26, for a total transaction of $4,241,160.00. Following the sale, the director now directly owns 76,689 shares of the company's stock, valued at approximately $4,928,035.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Michael J. Endres sold 66,000 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $64.26, for a total value of $4,241,160.00. Following the sale, the director now directly owns 76,689 shares of the company's stock, valued at approximately $4,928,035.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ozey K. Horton, Jr. sold 1,000 shares of the business's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $61.34, for a total value of $61,340.00. Following the completion of the sale, the director now directly owns 40,688 shares in the company, valued at $2,495,801.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,000 shares of company stock valued at $4,364,750. 38.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WOR. New York State Teachers Retirement System increased its position in shares of Worthington Enterprises by 0.3% during the first quarter. New York State Teachers Retirement System now owns 57,557 shares of the industrial products company's stock worth $3,582,000 after acquiring an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Worthington Enterprises by 106.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,366 shares of the industrial products company's stock valued at $3,632,000 after buying an additional 30,045 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Worthington Enterprises in the first quarter valued at approximately $2,079,000. New Mexico Educational Retirement Board acquired a new stake in Worthington Enterprises in the first quarter valued at approximately $442,000. Finally, Denali Advisors LLC boosted its stake in Worthington Enterprises by 35.4% in the first quarter. Denali Advisors LLC now owns 81,021 shares of the industrial products company's stock valued at $5,042,000 after acquiring an additional 21,164 shares in the last quarter. Institutional investors own 51.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WOR. StockNews.com cut Worthington Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their target price on shares of Worthington Enterprises from $50.00 to $56.00 and gave the company a "sell" rating in a research note on Friday, March 22nd. Canaccord Genuity Group started coverage on shares of Worthington Enterprises in a research note on Tuesday, January 30th. They set a "hold" rating and a $56.00 target price for the company. Finally, Canaccord Genuity Group boosted their target price on shares of Worthington Enterprises from $56.00 to $64.00 and gave the company a "hold" rating in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.00.

Worthington Enterprises Price Performance

Worthington Enterprises stock traded up $0.80 during mid-day trading on Friday, hitting $58.41. The stock had a trading volume of 147,464 shares, compared to its average volume of 217,372. The firm has a market capitalization of $2.93 billion, a P/E ratio of 10.68 and a beta of 1.39. The company has a current ratio of 3.42, a quick ratio of 2.47 and a debt-to-equity ratio of 0.33. The firm's 50 day moving average is $61.27 and its 200 day moving average is $59.81. Worthington Enterprises has a one year low of $33.96 and a one year high of $69.96.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.44). Worthington Enterprises had a net margin of 7.12% and a return on equity of 19.40%. The company had revenue of $316.76 million for the quarter, compared to the consensus estimate of $326.70 million. During the same period last year, the company earned $1.04 EPS. The firm's revenue for the quarter was down 8.5% on a year-over-year basis.

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.