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

Shares of Worthington Enterprises, Inc. (NYSE:WOR) have earned an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $61.00.

A number of brokerages have issued reports on WOR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Monday, April 20th. Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Worthington Enterprises in a research note on Thursday, March 26th.

Hedge Funds Weigh In On Worthington Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of WOR. Nordea Investment Management AB acquired a new position in shares of Worthington Enterprises in the 4th quarter valued at $2,914,000. Jupiter Asset Management Ltd. acquired a new position in shares of Worthington Enterprises in the 4th quarter valued at $1,014,000. M&T Bank Corp grew its holdings in shares of Worthington Enterprises by 233.4% in the 4th quarter. M&T Bank Corp now owns 32,561 shares of the industrial products company’s stock valued at $1,679,000 after buying an additional 22,795 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Worthington Enterprises by 19.4% in the 3rd quarter. Fisher Asset Management LLC now owns 343,591 shares of the industrial products company’s stock valued at $19,066,000 after buying an additional 55,917 shares during the period. Finally, VELA Investment Management LLC grew its holdings in shares of Worthington Enterprises by 103.0% in the 4th quarter. VELA Investment Management LLC now owns 78,306 shares of the industrial products company’s stock valued at $4,038,000 after buying an additional 39,725 shares during the period. 51.59% of the stock is owned by institutional investors.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $59.81 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.36 and a quick ratio of 1.44. The firm has a market cap of $2.95 billion, a P/E ratio of 26.58 and a beta of 1.28. The firm has a 50 day simple moving average of $55.30 and a 200 day simple moving average of $54.37. Worthington Enterprises has a fifty-two week low of $45.01 and a fifty-two week high of $70.91.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share 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 business had revenue of $378.68 million during the quarter, compared to analyst estimates of $349.41 million. During the same quarter last year, the business posted $0.91 earnings per share. Worthington Enterprises’s revenue for the quarter was up 24.4% compared to the same quarter last year. Sell-side analysts predict that Worthington Enterprises will post 3.41 earnings per share for the current fiscal year.

Worthington Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 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.