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

Worthington Enterprises, Inc. (NYSE:WOR) has been given an average rating of “Hold” by the five research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $61.00.

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $69.00 price target on shares of Worthington Enterprises in a research report on Thursday, March 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research report on Monday, April 20th.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $59.81 on Friday. Worthington Enterprises has a 12-month low of $45.01 and a 12-month high of $70.91. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.95 billion, a PE ratio of 26.58 and a beta of 1.28. The firm has a 50-day moving average price of $55.30 and a 200 day moving average price of $54.37.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. Research analysts anticipate that Worthington Enterprises will post 3.41 earnings per share for the current fiscal year.

Worthington Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 15th. Worthington Enterprises’s dividend payout ratio is 33.78%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Worthington Enterprises by 4.5% during the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after buying an additional 554 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Worthington Enterprises during the first quarter worth approximately $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Worthington Enterprises by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock worth $937,000 after buying an additional 793 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Worthington Enterprises by 54.9% during the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after buying an additional 124,867 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Worthington Enterprises by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after buying an additional 7,575 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

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.