Worthington Enterprises’ (WOR) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Worthington Enterprises (NYSE:WOR) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $69.00 target price on the industrial products company’s stock.

Several other analysts have also recently commented on WOR. Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Worthington Enterprises presently has an average rating of “Hold” and a consensus price target of $61.00.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $50.71 on Thursday. Worthington Enterprises has a 12-month low of $43.35 and a 12-month high of $70.91. The stock has a market capitalization of $2.51 billion, a P/E ratio of 22.54 and a beta of 1.32. The firm’s 50-day moving average is $53.79 and its two-hundred day moving average is $54.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.36 and a quick ratio of 2.26.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. The business had revenue of $378.68 million during the quarter, compared to analyst estimates of $349.41 million. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. The company’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. Equities analysts predict that Worthington Enterprises will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.5%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 33.78%.

Hedge Funds Weigh In On Worthington Enterprises

A number of large investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new stake in shares of Worthington Enterprises during the 3rd quarter worth $3,059,000. Fisher Asset Management LLC boosted its holdings in Worthington Enterprises by 19.4% in the third quarter. Fisher Asset Management LLC now owns 343,591 shares of the industrial products company’s stock valued at $19,066,000 after acquiring an additional 55,917 shares during the last quarter. Nordea Investment Management AB acquired a new position in Worthington Enterprises in the fourth quarter valued at $2,914,000. Arrowstreet Capital Limited Partnership grew its position in Worthington Enterprises by 377.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 288,222 shares of the industrial products company’s stock valued at $18,342,000 after acquiring an additional 227,792 shares during the period. Finally, Quantedge Capital Pte Ltd purchased a new stake in Worthington Enterprises during the second quarter valued at about $1,546,000. Hedge funds and other institutional investors 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.