Worthington Enterprises (NYSE:WOR) Hits New 1-Year Low – Here’s Why

Worthington Enterprises, Inc. (NYSE:WOR)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $38.16 and last traded at $38.33, with a volume of 42113 shares changing hands. The stock had previously closed at $38.68.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WOR shares. Canaccord Genuity Group raised their target price on Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group dropped their price target on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th.

Worthington Enterprises Price Performance

The business has a fifty day moving average price of $40.33 and a 200 day moving average price of $44.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 54.24 and a beta of 1.26.

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

Worthington Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.65%. Worthington Enterprises’s dividend payout ratio (DPR) is 81.93%.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek bought 2,500 shares of Worthington Enterprises stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the acquisition, the chief financial officer now owns 168,875 shares of the company’s stock, valued at approximately $6,790,463.75. This represents a 1.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.50% of the company’s stock.

Institutional Investors Weigh In On Worthington Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of WOR. SG Americas Securities LLC lifted its holdings in shares of 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 purchasing an additional 4,053 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Worthington Enterprises by 2.0% in the second 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 period. Panagora Asset Management Inc. purchased a new position in shares of Worthington Enterprises in the second quarter worth approximately $2,044,000. IFG Advisory LLC raised its holdings in shares of Worthington Enterprises by 30.6% during the second quarter. IFG Advisory LLC now owns 15,666 shares of the industrial products company’s stock valued at $741,000 after acquiring an additional 3,666 shares during the period. Finally, Private Wealth Strategies L.L.C. purchased a new stake in shares of Worthington Enterprises in the 2nd quarter valued at approximately $3,913,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Company Profile

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.