Worthington Enterprises, Inc. (NYSE:WOR – Get Free Report)’s stock price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $60.15, but opened at $70.23. Worthington Enterprises shares last traded at $64.66, with a volume of 170,375 shares trading hands.
The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.22. The company had revenue of $317.88 million for the quarter, compared to analysts’ expectations of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share.
Worthington Enterprises Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.21%. Worthington Enterprises’s dividend payout ratio is currently 57.63%.
Analyst Ratings Changes
Read Our Latest Analysis on Worthington Enterprises
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of WOR. Quadrant Capital Group LLC raised its stake in Worthington Enterprises by 121.0% during the fourth quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 455 shares in the last quarter. Quarry LP bought a new stake in shares of Worthington Enterprises in the 1st quarter worth about $49,000. Anchor Investment Management LLC purchased a new stake in shares of Worthington Enterprises during the 4th quarter valued at about $40,000. State of Wyoming bought a new position in shares of Worthington Enterprises in the 4th quarter valued at about $51,000. Finally, Summit Securities Group LLC purchased a new position in Worthington Enterprises in the first quarter worth about $75,000. 51.59% of the stock is currently owned by institutional investors.
Worthington Enterprises Trading Up 2.7%
The company has a 50-day moving average of $56.79 and a 200 day moving average of $47.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.60. The company has a market cap of $3.14 billion, a PE ratio of 32.98 and a beta of 1.19.
About Worthington Enterprises
Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.
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