Worthington Enterprises (NYSE:WOR) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Worthington Enterprises, Inc. (NYSE:WOR)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $57.45 and traded as high as $58.86. Worthington Enterprises shares last traded at $56.8770, with a volume of 133,466 shares.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WOR. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Canaccord Genuity Group decreased their price objective on shares of Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Finally, Wall Street Zen upgraded shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.00.

Worthington Enterprises Stock Down 2.5%

The company has a market cap of $2.82 billion, a price-to-earnings ratio of 26.83 and a beta of 1.35. The stock’s 50-day moving average is $54.73 and its 200-day moving average is $57.45. The company has a current ratio of 3.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Tuesday, December 16th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. The company had revenue of $327.45 million during the quarter, compared to the consensus estimate of $310.60 million. During the same period last year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 1.3%. Worthington Enterprises’s dividend payout ratio is presently 35.85%.

Institutional Trading of Worthington Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of WOR. Windsor Advisory Group LLC bought a new position in shares of Worthington Enterprises in the third quarter valued at $16,319,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Worthington Enterprises by 377.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 288,222 shares of the industrial products company’s stock worth $18,342,000 after acquiring an additional 227,792 shares during the last quarter. Keybank National Association OH acquired a new stake in shares of Worthington Enterprises in the 4th quarter worth about $10,749,000. LSV Asset Management bought a new position in Worthington Enterprises in the 4th quarter valued at about $10,684,000. Finally, American Century Companies Inc. boosted its stake in Worthington Enterprises by 23.0% during the 2nd quarter. American Century Companies Inc. now owns 1,010,730 shares of the industrial products company’s stock valued at $64,323,000 after purchasing an additional 188,783 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Company Profile

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.