Worthington Enterprises (NYSE:WOR) Price Target Raised to $49.00

Worthington Enterprises (NYSE:WOR) had its price target hoisted by Canaccord Genuity Group from $46.00 to $49.00 in a research note issued to investors on Thursday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group cut their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th.

Worthington Enterprises Stock Performance

WOR stock opened at $40.78 on Thursday. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. The stock’s 50 day simple moving average is $40.38 and its 200 day simple moving average is $44.17. The firm has a market cap of $2.05 billion, a P/E ratio of 53.66 and a beta of 1.26. Worthington Enterprises has a 12-month low of $37.88 and a 12-month high of $69.96.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business had revenue of $274.05 million during the quarter, compared to analyst estimates of $273.77 million. During the same period last year, the firm posted $0.78 EPS. The company’s revenue was down 8.1% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.67%. Worthington Enterprises’s payout ratio is 81.93%.

Insider Buying and Selling at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek acquired 2,500 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average cost of $40.21 per share, with a total value of $100,525.00. Following the completion of the purchase, the chief financial officer now directly owns 168,875 shares in the company, valued at $6,790,463.75. The trade was a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WOR. SG Americas Securities LLC lifted its position in Worthington Enterprises by 170.6% during the second quarter. SG Americas Securities LLC now owns 6,429 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 4,053 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Worthington Enterprises by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company’s stock worth $729,000 after buying an additional 300 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in Worthington Enterprises during the 2nd quarter worth $2,044,000. IFG Advisory LLC increased its position in Worthington Enterprises by 30.6% during the 2nd quarter. IFG Advisory LLC now owns 15,666 shares of the industrial products company’s stock valued at $741,000 after buying an additional 3,666 shares in the last quarter. Finally, Private Wealth Strategies L.L.C. purchased a new stake in Worthington Enterprises in the second quarter valued at about $3,913,000. 51.59% of the stock is owned by institutional investors.

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.