Worthington Enterprises (NYSE:WOR) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Worthington shares passed above its 200-day moving average (200‑day = $54.30), trading as high as $55.33 and last at $54.89 on volume of 173,564 shares.
• The company beat expectations for the quarter, reporting $0.98 EPS versus a $0.95 estimate and revenue of $378.68 million (up 24.4% year‑over‑year versus a $349.41 million consensus).
• Worthington declared a quarterly dividend of $0.19 (annualized $0.76, ~1.4% yield), while analysts hold a consensus "Hold" rating with a $61 average price target (2 Buy, 2 Hold, 1 Sell).

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $54.30 and traded as high as $55.33. Worthington Enterprises shares last traded at $54.89, with a volume of 173,564 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WOR shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Worthington Enterprises in a report on Monday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $69.00 price objective on shares of Worthington Enterprises in a research report on Thursday, March 26th. Finally, Wall Street Zen lowered shares of Worthington Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $61.00.

Worthington Enterprises Stock Up 1.7%

The stock has a market cap of $2.70 billion, a P/E ratio of 24.40 and a beta of 1.32. The firm has a 50 day simple moving average of $53.05 and a 200-day simple moving average of $54.30. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.31.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its earnings results on Tuesday, March 24th. The industrial products company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. The company had revenue of $378.68 million during the quarter, compared to the consensus estimate of $349.41 million. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. On average, equities research analysts forecast that Worthington Enterprises, Inc. will post 3.41 earnings per share for the current fiscal year.

Worthington Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 15th. Worthington Enterprises's dividend payout ratio is currently 33.78%.

Institutional Investors Weigh In On Worthington Enterprises

A number of institutional investors have recently made changes to their positions in WOR. Vanguard Group Inc. grew its holdings in Worthington Enterprises by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,753,434 shares of the industrial products company's stock valued at $208,278,000 after buying an additional 15,894 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Worthington Enterprises by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 768,013 shares of the industrial products company's stock worth $39,613,000 after buying an additional 4,745 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Worthington Enterprises by 67.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company's stock valued at $26,721,000 after acquiring an additional 193,319 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Worthington Enterprises in the first quarter valued at about $23,824,000. Finally, Fisher Asset Management LLC grew its stake in shares of Worthington Enterprises by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 436,731 shares of the industrial products company's stock valued at $22,522,000 after acquiring an additional 93,140 shares in the last quarter. Institutional investors own 51.59% of the company's stock.

About Worthington Enterprises

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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