Worthington Enterprises, Inc. (NYSE:WOR) Receives $61.00 Consensus Target Price from Brokerages

Worthington Enterprises, Inc. (NYSE:WOR) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $61.00.

Several equities analysts recently weighed in on WOR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, October 8th. CJS Securities raised Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Wednesday, September 24th. Canaccord Genuity Group lowered their price objective on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Finally, Wall Street Zen downgraded Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th.

Worthington Enterprises Stock Up 0.3%

Shares of WOR stock opened at $52.94 on Friday. Worthington Enterprises has a 12 month low of $38.63 and a 12 month high of $70.91. The stock has a market cap of $2.63 billion, a P/E ratio of 24.97 and a beta of 1.33. The company has a current ratio of 3.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $55.37 and a two-hundred day simple moving average of $59.57.

Worthington Enterprises (NYSE:WOR) last issued 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 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 analysts’ expectations of $310.60 million. During the same quarter in the prior year, the business earned $0.60 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts expect that Worthington Enterprises will post 2.67 earnings per share for the current 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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, March 13th. Worthington Enterprises’s dividend payout ratio is presently 35.85%.

Insider Activity at Worthington Enterprises

In other news, Director Michael J. Endres bought 10,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average price of $52.95 per share, for a total transaction of $529,500.00. Following the purchase, the director owned 95,524 shares in the company, valued at $5,057,995.80. This represents a 11.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Worthington Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC bought a new stake in Worthington Enterprises in the 1st quarter valued at $4,082,000. Russell Investments Group Ltd. grew its position in shares of Worthington Enterprises by 23.5% during the first quarter. Russell Investments Group Ltd. now owns 35,720 shares of the industrial products company’s stock valued at $1,789,000 after purchasing an additional 6,790 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Worthington Enterprises by 6.2% in the first quarter. Wellington Management Group LLP now owns 73,980 shares of the industrial products company’s stock worth $3,706,000 after purchasing an additional 4,300 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Worthington Enterprises by 47.6% in the first quarter. Hsbc Holdings PLC now owns 7,577 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 2,442 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Worthington Enterprises in the first quarter worth about $11,769,000. 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.