Short Interest in Worthington Enterprises, Inc. (NYSE:WOR) Grows By 25.4%

Worthington Enterprises, Inc. (NYSE:WOR) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 891,056 shares, a growth of 25.4% from the March 15th total of 710,640 shares. Based on an average daily volume of 371,791 shares, the short-interest ratio is currently 2.4 days. Approximately 1.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Worthington Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its position in shares of Worthington Enterprises by 823.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 757 shares of the industrial products company’s stock valued at $39,000 after buying an additional 675 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Worthington Enterprises by 21.3% during the 4th quarter. Corient Private Wealth LLC now owns 12,190 shares of the industrial products company’s stock worth $629,000 after purchasing an additional 2,138 shares during the last quarter. Mariner Investment Group LLC acquired a new position in Worthington Enterprises in the 4th quarter valued at about $216,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Worthington Enterprises in the 4th quarter valued at about $240,000. Finally, Summit Global Investments purchased a new position in shares of Worthington Enterprises in the 4th quarter valued at about $963,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, January 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $69.00 price target on shares of Worthington Enterprises in a research note on Thursday, March 26th. Finally, Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Two investment analysts have rated the stock with 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 presently has a consensus rating of “Hold” and a consensus target price of $61.00.

Worthington Enterprises Trading Up 4.3%

WOR stock traded up $2.29 during mid-day trading on Friday, reaching $55.32. 205,455 shares of the stock traded hands, compared to its average volume of 290,757. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36. Worthington Enterprises has a one year low of $45.01 and a one year high of $70.91. The stock has a market capitalization of $2.72 billion, a PE ratio of 24.59 and a beta of 1.32. The business has a 50-day moving average price of $53.35 and a two-hundred day moving average price of $54.33.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. The firm had revenue of $378.68 million during the quarter, compared to analyst estimates of $349.41 million. During the same period in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 24.4% on a year-over-year basis. Equities research analysts expect that Worthington Enterprises will post 2.67 EPS for the current year.

Worthington Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, June 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. Worthington Enterprises’s dividend payout ratio is 33.78%.

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.