Worthington Enterprises, Inc. (NYSE:WOR) Receives $62.33 Average Price Target from Brokerages

Shares of Worthington Enterprises, Inc. (NYSE:WOR) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $62.3333.

A number of brokerages have recently issued reports on WOR. Wall Street Zen downgraded shares of Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Canaccord Genuity Group lowered their price target on shares of Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. CJS Securities upgraded shares of Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research report on Wednesday, September 24th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, October 8th. Finally, Zacks Research cut shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th.

Insiders Place Their Bets

In other news, Director Michael J. Endres acquired 10,000 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were acquired at an average price of $52.95 per share, for a total transaction of $529,500.00. Following the completion of the transaction, the director directly owned 95,524 shares of the company’s stock, valued at approximately $5,057,995.80. The trade was a 11.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is owned by company insiders.

Institutional Trading of Worthington Enterprises

A number of hedge funds have recently added to or reduced their stakes in WOR. GAMMA Investing LLC increased its holdings in shares of Worthington Enterprises by 77.2% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 716 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Worthington Enterprises during the first quarter valued at about $256,000. Teacher Retirement System of Texas acquired a new position in shares of Worthington Enterprises during the first quarter valued at about $238,000. Principal Financial Group Inc. increased its holdings in shares of Worthington Enterprises by 1.9% during the first quarter. Principal Financial Group Inc. now owns 154,928 shares of the industrial products company’s stock valued at $7,760,000 after acquiring an additional 2,930 shares in the last quarter. Finally, VELA Investment Management LLC increased its holdings in shares of Worthington Enterprises by 2.1% during the first quarter. VELA Investment Management LLC now owns 31,150 shares of the industrial products company’s stock valued at $1,560,000 after acquiring an additional 638 shares in the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Down 0.6%

NYSE:WOR opened at $55.73 on Friday. The firm has a market cap of $2.77 billion, a P/E ratio of 26.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.24 and a current ratio of 3.30. Worthington Enterprises has a fifty-two week low of $37.88 and a fifty-two week high of $70.91. The firm has a 50-day simple moving average of $59.32 and a two-hundred day simple moving average of $59.83.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Wednesday, December 28th. The industrial products company reported $2.12 earnings per share for the quarter. The business had revenue of $1.23 billion during the quarter. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.70%. Analysts predict that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises’s payout ratio is 35.68%.

About Worthington Enterprises

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.