Worthington Enterprises (NYSE:WOR) Reaches New 52-Week High – Time to Buy?

Worthington Enterprises, Inc. (NYSE:WOR)’s share price hit a new 52-week high on Monday . The stock traded as high as $60.83 and last traded at $60.49, with a volume of 18750 shares trading hands. The stock had previously closed at $58.14.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group lifted their target price on Worthington Enterprises from $39.00 to $44.00 and gave the stock a “sell” rating in a report on Thursday, April 3rd. Finally, Canaccord Genuity Group raised Worthington Enterprises from a “hold” rating to a “buy” rating and upped their target price for the company from $54.00 to $67.00 in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $52.33.

Worthington Enterprises Trading Up 3.2%

The company’s 50-day moving average is $47.08 and its 200 day moving average is $43.16. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.99 billion, a PE ratio of 72.40 and a beta of 1.18.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The company had revenue of $304.52 million for the quarter, compared to analyst estimates of $289.09 million. During the same period in the prior year, the firm posted $0.80 EPS. The business’s revenue was down 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. Worthington Enterprises’s dividend payout ratio is currently 57.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its holdings in Worthington Enterprises by 121.0% during the fourth quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 455 shares during the period. Anchor Investment Management LLC bought a new stake in Worthington Enterprises during the 4th quarter valued at approximately $40,000. State of Wyoming bought a new stake in Worthington Enterprises during the 4th quarter valued at approximately $51,000. GAMMA Investing LLC grew its holdings in Worthington Enterprises by 77.2% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company’s stock valued at $82,000 after buying an additional 716 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its position in Worthington Enterprises by 41.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company’s stock worth $68,000 after buying an additional 501 shares during the period. 51.59% of the stock is currently 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.