Worthington Enterprises (NYSE:WOR) Trading 5.6% Higher - Here's Why

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report)'s stock price was up 5.6% on Monday . The company traded as high as $55.09 and last traded at $54.89. Approximately 43,306 shares were traded during trading, a decline of 86% from the average daily volume of 305,073 shares. The stock had previously closed at $51.99.

Analyst Ratings Changes

Several analysts recently commented on WOR shares. Canaccord Genuity Group upgraded shares of Worthington Enterprises from a "hold" rating to a "buy" rating and raised their price objective for the company from $54.00 to $67.00 in a research note on Monday. The Goldman Sachs Group boosted their price target on Worthington Enterprises from $39.00 to $44.00 and gave the stock a "sell" rating in a research note on Thursday, April 3rd. Finally, Seaport Res Ptn raised Worthington Enterprises to a "strong-buy" rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $52.33.

Worthington Enterprises Trading Up 6.2 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. The business has a fifty day simple moving average of $45.52 and a 200 day simple moving average of $42.57. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 66.52 and a beta of 1.06.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.18. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The firm had revenue of $304.52 million during the quarter, compared to the consensus estimate of $289.09 million. During the same quarter in the previous year, the company posted $0.80 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities analysts anticipate that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. Worthington Enterprises's dividend payout ratio is currently 57.63%.

Institutional Investors Weigh In On Worthington Enterprises

Several hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in Worthington Enterprises by 24.8% during the third quarter. Barclays PLC now owns 128,158 shares of the industrial products company's stock valued at $5,312,000 after buying an additional 25,453 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Worthington Enterprises by 7.5% during the 3rd quarter. Franklin Resources Inc. now owns 18,604 shares of the industrial products company's stock worth $751,000 after buying an additional 1,293 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Worthington Enterprises by 90.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 138,115 shares of the industrial products company's stock valued at $5,725,000 after acquiring an additional 65,685 shares in the last quarter. KBC Group NV lifted its stake in Worthington Enterprises by 63.7% during the fourth quarter. KBC Group NV now owns 1,860 shares of the industrial products company's stock worth $75,000 after purchasing an additional 724 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Worthington Enterprises by 9.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company's stock worth $71,032,000 after purchasing an additional 156,762 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

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.

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