Brokerages Set Worthington Enterprises, Inc. (NYSE:WOR) Target Price at $61.00

Shares of Worthington Enterprises, Inc. (NYSE:WOR) have been assigned an average rating of “Hold” from the five ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $61.00.

Several equities analysts have commented on WOR shares. Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $69.00 price objective on shares of Worthington Enterprises in a research report on Thursday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WOR. Nordea Investment Management AB bought a new stake in shares of Worthington Enterprises in the 4th quarter worth approximately $2,914,000. Essex Investment Management Co. LLC bought a new position in Worthington Enterprises during the third quarter valued at $3,059,000. Fisher Asset Management LLC grew its holdings in Worthington Enterprises by 19.4% during 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 purchasing an additional 55,917 shares during the period. Arrowstreet Capital Limited Partnership increased its position 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 buying an additional 227,792 shares during the last quarter. Finally, Quantedge Capital Pte Ltd purchased a new stake in Worthington Enterprises in the second quarter worth $1,546,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Performance

NYSE WOR opened at $52.12 on Tuesday. Worthington Enterprises has a 1 year low of $43.35 and a 1 year high of $70.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.36 and a quick ratio of 1.44. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 23.17 and a beta of 1.32. The company has a fifty day moving average price of $53.67 and a 200-day moving average price of $54.56.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results 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. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. The company had revenue of $378.68 million for the quarter, compared to analyst estimates of $349.41 million. During the same period last year, the firm earned $0.91 earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts predict that Worthington Enterprises will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 1.5%. Worthington Enterprises’s dividend payout ratio is presently 33.78%.

Worthington Enterprises Company Profile

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.