Worthington Enterprises, Inc. (NYSE:WOR) Receives Average Rating of “Hold” from Analysts

Worthington Enterprises, Inc. (NYSE:WOR) has received an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $61.00.

A number of research analysts have commented on the stock. Canaccord Genuity Group cut their price target on shares of Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th.

Worthington Enterprises Stock Up 2.1%

WOR opened at $59.21 on Monday. The company has a market capitalization of $2.93 billion, a P/E ratio of 27.93 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.26. The firm’s fifty day moving average price is $54.27 and its two-hundred day moving average price is $57.62. Worthington Enterprises has a fifty-two week low of $39.05 and a fifty-two week high of $70.91.

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

Worthington Enterprises Dividend Announcement

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

Hedge Funds Weigh In On Worthington Enterprises

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Worthington Enterprises by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,753,434 shares of the industrial products company’s stock worth $208,278,000 after buying an additional 15,894 shares during the last quarter. American Century Companies Inc. grew its position 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 worth $64,323,000 after acquiring an additional 188,783 shares during the last quarter. Geode Capital Management LLC grew its position in Worthington Enterprises by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 733,238 shares of the industrial products company’s stock worth $46,670,000 after acquiring an additional 8,293 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Worthington Enterprises by 67.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company’s stock valued at $26,721,000 after purchasing an additional 193,319 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Worthington Enterprises by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 408,990 shares of the industrial products company’s stock valued at $26,028,000 after purchasing an additional 3,248 shares during the last quarter. 51.59% of the stock is owned by institutional investors.

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.