The Goldman Sachs Group Issues Positive Forecast for Worthington Enterprises (NYSE:WOR) Stock Price

Worthington Enterprises (NYSE:WOR) had its target price increased by The Goldman Sachs Group from $44.00 to $50.00 in a report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the industrial products company’s stock.

Separately, Canaccord Genuity Group lifted their target price on Worthington Enterprises from $69.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.00.

Worthington Enterprises Trading Up 2.7%

Shares of Worthington Enterprises stock opened at $63.00 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.60 and a current ratio of 3.48. Worthington Enterprises has a 52 week low of $37.88 and a 52 week high of $70.91. The stock has a 50 day moving average price of $56.79 and a two-hundred day moving average price of $47.48. The stock has a market capitalization of $3.14 billion, a PE ratio of 32.98 and a beta of 1.19.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.22. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%. The firm had revenue of $317.88 million during the quarter, compared to analysts’ expectations of $300.96 million. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.19 per share. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Worthington Enterprises’s payout ratio is presently 57.63%.

Institutional Trading of Worthington Enterprises

A number of hedge funds have recently bought and sold shares of WOR. Hotchkis & Wiley Capital Management LLC bought a new stake in Worthington Enterprises during the first quarter worth $11,769,000. American Century Companies Inc. raised its stake in shares of Worthington Enterprises by 24.1% in the first quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company’s stock valued at $41,171,000 after buying an additional 159,798 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Worthington Enterprises by 236.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company’s stock valued at $8,916,000 after purchasing an additional 156,173 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Worthington Enterprises by 187.9% during the fourth quarter. Fisher Asset Management LLC now owns 202,305 shares of the industrial products company’s stock valued at $8,114,000 after purchasing an additional 132,040 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings 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 valued at $17,656,000 after purchasing an additional 124,867 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors.

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.