Worthington Enterprises (NYSE:WOR) Stock Price Breaks Below Fifty Day Moving Average - Time to Sell?

Key Points

• Worthington Enterprises shares fell below their 50-day moving average: The stock dipped to $60.14 and last traded at about $60.26, below its $61.27 average.
• Analyst sentiment remains positive overall, with a Moderate Buy consensus and a $75 average price target; Canaccord raised its target to $75 and maintained a Buy rating.
• The company beat quarterly estimates, reporting EPS of $0.82 versus $0.75 expected and revenue up 13.2% year over year. It also declared a quarterly dividend of $0.20 per share, equivalent to a 1.3% yield.

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) shares crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $61.27 and traded as low as $60.14. Worthington Enterprises shares last traded at $60.2580, with a volume of 241,618 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Worthington Enterprises from $67.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Weiss Ratings upgraded shares of Worthington Enterprises from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

Worthington Enterprises Stock Performance

The stock has a market cap of $2.97 billion, a P/E ratio of 18.20 and a beta of 1.30. The stock has a fifty day simple moving average of $61.27 and a 200-day simple moving average of $56.76. The company has a quick ratio of 1.53, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.07. Worthington Enterprises had a net margin of 11.50% and a return on equity of 16.71%. The business had revenue of $343.89 million for the quarter, compared to the consensus estimate of $331.26 million. During the same period last year, the company posted $0.74 EPS. Worthington Enterprises's revenue for the quarter was up 13.2% on a year-over-year basis. Equities analysts expect that Worthington Enterprises, Inc. will post 3.80 earnings per share for the current fiscal year.

Worthington Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, December 15th. Worthington Enterprises's dividend payout ratio is presently 24.17%.

Insider Buying and Selling

In other Worthington Enterprises news, major shareholder John McConnell sold 42,491 shares of the stock in a transaction on Monday, September 28th. The shares were sold at an average price of $60.43, for a total value of $2,567,731.13. Following the sale, the insider directly owned 1,335,648 shares in the company, valued at approximately $80,713,208.64. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company's stock.

Institutional Trading of Worthington Enterprises

Several hedge funds have recently added to or reduced their stakes in WOR. BlackRock Inc. bought a new position in Worthington Enterprises during the second quarter worth about $283,372,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Worthington Enterprises by 1.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 537,773 shares of the industrial products company's stock worth $32,019,000 after acquiring an additional 8,560 shares in the last quarter. Windsor Advisory Group LLC raised its position in shares of Worthington Enterprises by 23.5% during the first quarter. Windsor Advisory Group LLC now owns 459,633 shares of the industrial products company's stock worth $23,965,000 after purchasing an additional 87,351 shares during the period. Fisher Asset Management LLC raised its position in shares of Worthington Enterprises by 7.1% during the third quarter. Fisher Asset Management LLC now owns 457,693 shares of the industrial products company's stock worth $27,251,000 after purchasing an additional 30,174 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Worthington Enterprises during the 2nd quarter valued at about $18,376,000. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Company Profile

Worthington Enterprises designs and manufactures products for building and construction, consumer markets, and sustainable energy applications. Its offerings include pressure cylinders used for propane, industrial gases, and other applications, as well as products for residential water systems and construction. The company's consumer products include outdoor living and heating products, hand torches, and fuel cylinders. Its portfolio also includes equipment and components intended for applications such as compressed natural gas and hydrogen storage.

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