Worthington Enterprises, Inc. (NYSE:WOR) Receives $61.00 Consensus PT from Brokerages

Worthington Enterprises, Inc. (NYSE:WOR) has earned an average recommendation of “Hold” from the five research firms that are currently 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 given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $61.00.

WOR has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Canaccord Genuity Group restated a “buy” rating and set a $69.00 price objective on shares of Worthington Enterprises in a research note on Thursday, March 26th. Finally, Wall Street Zen raised Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th.

Worthington Enterprises Price Performance

Shares of WOR opened at $52.12 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36. The company has a 50 day moving average price of $53.69 and a 200-day moving average price of $54.69. Worthington Enterprises has a fifty-two week low of $43.35 and a fifty-two week high of $70.91. The stock has a market capitalization of $2.58 billion, a PE ratio of 23.17 and a beta of 1.32.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. The company had revenue of $378.68 million for 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%. Worthington Enterprises’s revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. Equities analysts predict that Worthington Enterprises will post 2.67 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 Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th. Worthington Enterprises’s dividend payout ratio is presently 33.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Windsor Advisory Group LLC purchased a new stake in Worthington Enterprises during the third quarter valued at approximately $16,319,000. Arrowstreet Capital Limited Partnership grew its holdings in Worthington Enterprises by 377.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 288,222 shares of the industrial products company’s stock worth $18,342,000 after purchasing an additional 227,792 shares during the last quarter. Keybank National Association OH purchased a new position in Worthington Enterprises in the fourth quarter worth $10,749,000. LSV Asset Management acquired a new position in shares of Worthington Enterprises during the fourth quarter worth $10,684,000. Finally, Millennium Management LLC increased its position 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 purchasing an additional 124,867 shares in the last quarter. 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.