Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $55.00 and traded as high as $58.66. Worthington Enterprises shares last traded at $58.4660, with a volume of 105,666 shares.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on WOR. Canaccord Genuity Group dropped their price objective on shares of Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, June 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Finally, Wall Street Zen cut shares of Worthington Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $65.50.
View Our Latest Report on Worthington Enterprises
Worthington Enterprises Stock Up 1.0%
The firm's 50-day simple moving average is $56.69 and its 200 day simple moving average is $55.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. The stock has a market capitalization of $2.86 billion, a P/E ratio of 18.62 and a beta of 1.28.
Worthington Enterprises (NYSE:WOR - Get Free Report) last released its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The firm had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same period in the prior year, the business posted $1.06 earnings per share. Worthington Enterprises's quarterly revenue was up 16.9% compared to the same quarter last year. As a group, research analysts expect that Worthington Enterprises, Inc. will post 3.85 EPS for the current year.
Worthington Enterprises Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.19. Worthington Enterprises's dividend payout ratio is presently 24.20%.
Insider Buying and Selling at Worthington Enterprises
In other news, major shareholder John P/Oh Mcconnell sold 41,704 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $55.85, for a total value of $2,329,168.40. Following the transaction, the insider directly owned 1,335,648 shares of the company's stock, valued at $74,595,940.80. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.40% of the company's stock.
Hedge Funds Weigh In On Worthington Enterprises
Several institutional investors and hedge funds have recently modified their holdings of WOR. Royal Bank of Canada increased its stake in Worthington Enterprises by 4.5% during the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company's stock worth $650,000 after acquiring an additional 554 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Worthington Enterprises during the 1st quarter worth $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Worthington Enterprises by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company's stock worth $937,000 after purchasing an additional 793 shares during the period. Millennium Management LLC lifted its position in Worthington Enterprises by 54.9% during the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock worth $17,656,000 after purchasing an additional 124,867 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Worthington Enterprises by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company's stock worth $11,143,000 after buying an additional 7,575 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.
About Worthington Enterprises
(
Get Free Report)
Worthington Enterprises NYSE: WOR is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company's portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.
Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.
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