Worthington Enterprises (NYSE:WOR) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Worthington Enterprises (NYSE:WOR) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07), Zacks reports. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.

Worthington Enterprises Trading Down 0.6%

Shares of Worthington Enterprises stock traded down $0.38 during trading hours on Tuesday, hitting $61.11. The company’s stock had a trading volume of 347,067 shares, compared to its average volume of 190,217. The company has a market capitalization of $3.01 billion, a PE ratio of 27.16 and a beta of 1.28. 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 stock has a 50 day moving average of $56.15 and a 200 day moving average of $54.58. Worthington Enterprises has a 12 month low of $45.01 and a 12 month high of $70.91.

Institutional Trading of Worthington Enterprises

Large investors have recently bought and sold shares of the business. McMillan Office Inc. acquired a new stake in Worthington Enterprises during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its position in shares of Worthington Enterprises by 693.6% during the second quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 541 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Worthington Enterprises during the fourth quarter worth $51,000. Quadrant Capital Group LLC acquired a new stake in shares of Worthington Enterprises during the third quarter worth $107,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Worthington Enterprises during the fourth quarter worth $151,000. 51.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WOR shares. Canaccord Genuity Group reissued a “buy” rating and set a $69.00 price target on shares of Worthington Enterprises in a research note on Thursday, March 26th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Monday, April 20th. Finally, Wall Street Zen raised Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Worthington Enterprises currently has an average rating of “Hold” and a consensus target price of $61.00.

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.