Worthington Enterprises (NYSE:WOR) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Worthington Enterprises (NYSE:WOR) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group lowered their price objective on shares of Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Zacks Research downgraded shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. The Goldman Sachs Group raised their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a “sell” rating in a research note on Thursday, June 26th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, October 8th. Finally, CJS Securities upgraded shares of Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.33.

Worthington Enterprises Trading Up 1.0%

Shares of WOR stock opened at $55.60 on Friday. Worthington Enterprises has a 12 month low of $37.88 and a 12 month high of $70.91. The company has a quick ratio of 2.24, a current ratio of 3.30 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $61.74 and its two-hundred day moving average is $58.78. The company has a market cap of $2.76 billion, a PE ratio of 26.10 and a beta of 1.17.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Wednesday, December 28th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter. The business had revenue of $1.23 billion for the quarter. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.70%. Equities analysts predict that Worthington Enterprises will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises’s payout ratio is currently 35.68%.

Insiders Place Their Bets

In related news, Director Michael J. Endres acquired 10,000 shares of the business’s stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $52.95 per share, with a total value of $529,500.00. Following the completion of the acquisition, the director owned 95,524 shares in the company, valued at $5,057,995.80. The trade was a 11.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in shares of Worthington Enterprises by 23.0% during the second quarter. American Century Companies Inc. now owns 1,010,730 shares of the industrial products company’s stock valued at $64,323,000 after acquiring an additional 188,783 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Worthington Enterprises by 1.1% during the second quarter. Geode Capital Management LLC now owns 733,238 shares of the industrial products company’s stock valued at $46,670,000 after acquiring an additional 8,293 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Worthington Enterprises by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company’s stock valued at $27,051,000 after acquiring an additional 6,764 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Worthington Enterprises by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 408,990 shares of the industrial products company’s stock valued at $26,028,000 after acquiring an additional 3,248 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock valued at $17,656,000 after buying an additional 124,867 shares during the last quarter. 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.