Worthington Enterprises (NYSE:WOR) Announces Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Worthington Enterprises (NYSE:WOR - Get Free Report) posted its quarterly earnings data on Tuesday. The industrial products company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.84 by $0.22, Zacks reports. Worthington Enterprises had a return on equity of 15.16% and a net margin of 5.23%. During the same quarter last year, the company posted $0.74 earnings per share. The company's revenue for the quarter was down .3% compared to the same quarter last year.

Worthington Enterprises Stock Up 1.5%

NYSE WOR traded up $0.87 during trading on Tuesday, reaching $60.07. 518,551 shares of the company's stock were exchanged, compared to its average volume of 305,183. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $66.79. The stock has a market cap of $3.00 billion, a P/E ratio of 50.91 and a beta of 1.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.60 and a current ratio of 3.51. The company has a 50 day moving average price of $56.26 and a two-hundred day moving average price of $47.29.

Worthington Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.27%. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's payout ratio is 57.63%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Canaccord Genuity Group upgraded shares of Worthington Enterprises from a "hold" rating to a "buy" rating and increased their price objective for the company from $54.00 to $67.00 in a report on Monday, May 5th. The Goldman Sachs Group increased their price target on Worthington Enterprises from $39.00 to $44.00 and gave the company a "sell" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $52.33.

Institutional Trading of Worthington Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in Worthington Enterprises by 4.5% in the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company's stock valued at $650,000 after buying an additional 554 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Worthington Enterprises by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company's stock worth $937,000 after buying an additional 793 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Worthington Enterprises by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company's stock valued at $11,143,000 after buying an additional 7,575 shares in the last quarter. AQR Capital Management LLC acquired a new position in Worthington Enterprises during the first quarter worth $533,000. Finally, Millennium Management LLC raised its position in Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock worth $17,656,000 after acquiring an additional 124,867 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Company Profile

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.