Worthington Enterprises, Inc. (NYSE:WOR) Short Interest Update

Worthington Enterprises, Inc. (NYSE:WOR) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,540,000 shares, a growth of 29.4% from the May 31st total of 1,190,000 shares. Based on an average trading volume of 252,700 shares, the days-to-cover ratio is presently 6.1 days. Approximately 5.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WOR. StockNews.com lowered shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on Worthington Enterprises from $50.00 to $56.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. Finally, Canaccord Genuity Group dropped their price target on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, Worthington Enterprises has an average rating of “Hold” and an average target price of $58.00.

Insider Buying and Selling

In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $61.34, for a total transaction of $61,340.00. Following the completion of the sale, the director now directly owns 40,688 shares of the company’s stock, valued at approximately $2,495,801.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 38.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Worthington Enterprises

Institutional investors and hedge funds have recently modified their holdings of the company. Gerber LLC bought a new stake in Worthington Enterprises during the 4th quarter worth approximately $1,856,000. Louisiana State Employees Retirement System bought a new stake in Worthington Enterprises during the fourth quarter valued at $875,000. Capital International Investors purchased a new position in Worthington Enterprises during the fourth quarter worth about $26,329,000. Allspring Global Investments Holdings LLC increased its stake in Worthington Enterprises by 36.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 61,907 shares of the industrial products company’s stock worth $3,563,000 after acquiring an additional 16,403 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Worthington Enterprises by 38.7% in the 4th quarter. Principal Financial Group Inc. now owns 158,912 shares of the industrial products company’s stock worth $9,145,000 after acquiring an additional 44,372 shares during the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Performance

Worthington Enterprises stock traded up $0.33 during mid-day trading on Friday, reaching $47.33. The company’s stock had a trading volume of 1,679,119 shares, compared to its average volume of 357,967. The company has a market capitalization of $2.37 billion, a P/E ratio of 21.42 and a beta of 1.35. The firm’s fifty day moving average price is $55.55 and its two-hundred day moving average price is $57.90. Worthington Enterprises has a 12-month low of $36.29 and a 12-month high of $69.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.47 and a current ratio of 3.78.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, June 25th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. The company had revenue of $318.80 million for the quarter, compared to the consensus estimate of $352.82 million. During the same quarter in the previous year, the firm posted $2.74 earnings per share. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year.

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.