Worthington Enterprises (NYSE:WOR) Stock Crosses Below 50-Day Moving Average – Should You Sell?

Worthington Enterprises, Inc. (NYSE:WOR)’s share price crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $61.27 and traded as low as $60.14. Worthington Enterprises shares last traded at $60.2580, with a volume of 241,618 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have commented on WOR shares. Canaccord Genuity Group boosted their target price on shares of Worthington Enterprises from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Weiss Ratings upgraded shares of Worthington Enterprises from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Worthington Enterprises Trading Up 0.2%

The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 16.98 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.53 and a current ratio of 2.67. The business has a fifty day moving average of $61.26 and a two-hundred day moving average of $56.81.

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

Worthington Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 15th will be given a $0.20 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 24.17%.

Insider Activity

In related news, major shareholder John McConnell sold 42,491 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $60.43, for a total value of $2,567,731.13. Following the sale, the insider directly owned 1,335,648 shares in the company, valued at $80,713,208.64. The trade was a 3.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Worthington Enterprises

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in Worthington Enterprises by 57.3% during the first quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 263 shares during the last quarter. Sei Investments Co. grew its position in shares of Worthington Enterprises by 6.1% in the first quarter. Sei Investments Co. now owns 4,601 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 264 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Worthington Enterprises by 72.2% in the third quarter. Sterling Capital Management LLC now owns 773 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 324 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Worthington Enterprises by 4.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 9,100 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 400 shares in the last quarter. Finally, Verity Asset Management Inc. increased its stake in shares of Worthington Enterprises by 2.6% during the 3rd quarter. Verity Asset Management Inc. now owns 18,976 shares of the industrial products company’s stock worth $1,130,000 after purchasing an additional 472 shares in the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Company Profile

Worthington Enterprises designs and manufactures products for building and construction, consumer markets, and sustainable energy applications. Its offerings include pressure cylinders used for propane, industrial gases, and other applications, as well as products for residential water systems and construction. The company’s consumer products include outdoor living and heating products, hand torches, and fuel cylinders. Its portfolio also includes equipment and components intended for applications such as compressed natural gas and hydrogen storage.