Worthington Enterprises (NYSE:WOR) Share Price Breaks Above 200-Day Moving Average – Here’s Why

Worthington Enterprises, Inc. (NYSE:WOR)’s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $56.62 and traded as high as $63.14. Worthington Enterprises shares last traded at $62.5460, with a volume of 304,371 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings raised Worthington Enterprises from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Canaccord Genuity Group lifted their target price on Worthington Enterprises from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Finally, Wall Street Zen cut Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Worthington Enterprises has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Worthington Enterprises Trading Down 1.8%

The company has a current ratio of 2.67, a quick ratio of 1.53 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.09 billion, a PE ratio of 18.92 and a beta of 1.29. The business’s 50-day simple moving average is $59.05 and its 200-day simple moving average is $56.72.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Worthington Enterprises had a net margin of 11.50% and a return on equity of 16.71%. The company had revenue of $343.89 million during the quarter, compared to analyst estimates of $331.26 million. During the same quarter last year, the business posted $0.74 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, analysts expect that Worthington Enterprises, Inc. will post 3.80 EPS for the current fiscal year.

Worthington Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 24.17%.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, major shareholder John McConnell sold 42,491 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $60.43, for a total value of $2,567,731.13. Following the transaction, the insider owned 1,335,648 shares in the company, valued at $80,713,208.64. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Worthington Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE bought a new stake in Worthington Enterprises in the second quarter worth $10,939,000. The Manufacturers Life Insurance Company bought a new position in Worthington Enterprises during the second quarter valued at about $867,000. De Lisle Partners LLP bought a new position in Worthington Enterprises during the second quarter valued at about $4,748,000. Hsbc Holdings PLC acquired a new stake in shares of Worthington Enterprises in the second quarter worth about $1,115,000. Finally, Summit Global Investments acquired a new stake in shares of Worthington Enterprises in the second quarter worth about $969,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

About Worthington Enterprises

Worthington Enterprises, Inc is a diversified manufacturer of consumer and building products headquartered in Columbus, Ohio. The company was established as part of the separation of Worthington Industries’ steel-processing business, which became Worthington Steel in 2023. Worthington Enterprises retained the company’s consumer-focused and building-products operations.

The company’s Consumer Products segment develops and sells products for the home, outdoor living, and related markets.