Worthington Enterprises (NYSE:WOR) Issues Earnings Results

Worthington Enterprises (NYSE:WOR) issued its earnings results on Tuesday. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06), Zacks reports. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.70%. The company had revenue of $327.45 million for the quarter, compared to analyst estimates of $310.60 million. During the same period last year, the business earned $0.60 EPS. The company’s quarterly revenue was up 19.5% on a year-over-year basis.

Worthington Enterprises Trading Down 2.6%

Shares of Worthington Enterprises stock opened at $56.25 on Wednesday. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $70.91. The company’s fifty day simple moving average is $55.66 and its 200-day simple moving average is $59.80. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 26.41 and a beta of 1.33. The company has a current ratio of 3.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.32.

Worthington Enterprises Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 35.68%.

Insiders Place Their Bets

In related news, Director Michael J. Endres purchased 10,000 shares of Worthington Enterprises stock in a transaction on Thursday, September 25th. The stock was purchased at an average cost of $52.95 per share, with a total value of $529,500.00. Following the acquisition, the director directly owned 95,524 shares in the company, valued at approximately $5,057,995.80. This trade represents a 11.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WOR. Royal Bank of Canada grew its position in Worthington Enterprises by 4.5% during the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after buying an additional 554 shares in the last quarter. AQR Capital Management LLC acquired a new position in Worthington Enterprises in the 1st quarter valued at approximately $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Worthington Enterprises by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock valued at $937,000 after acquiring an additional 793 shares in the last quarter. Millennium Management LLC lifted its position in shares of Worthington Enterprises by 54.9% in the 1st quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after acquiring an additional 124,867 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Worthington Enterprises by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after purchasing an additional 7,575 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. CJS Securities upgraded Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, October 8th. Canaccord Genuity Group dropped their price objective on Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Zacks Research downgraded shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, Wall Street Zen cut shares of Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.33.

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.