Worthington Enterprises (NYSE:WOR) Releases Earnings Results, Misses Estimates By $0.06 EPS

Worthington Enterprises (NYSE:WOR) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06), Zacks reports. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.91%.

Worthington Enterprises Stock Down 2.6%

Shares of WOR traded down $1.49 during midday trading on Tuesday, hitting $56.25. The company had a trading volume of 538,671 shares, compared to its average volume of 288,306. The company’s 50-day simple moving average is $55.64 and its 200-day simple moving average is $59.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.24 and a current ratio of 3.30. The firm has a market capitalization of $2.79 billion, a P/E ratio of 26.41 and a beta of 1.33. Worthington Enterprises has a 1 year low of $37.88 and a 1 year high of $70.91.

Worthington Enterprises Announces Dividend

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

Insider Buying and Selling at Worthington Enterprises

In other news, Director Michael J. Endres bought 10,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average price of $52.95 per share, for a total transaction of $529,500.00. Following the completion of the purchase, the director owned 95,524 shares in the company, valued at approximately $5,057,995.80. This trade represents a 11.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.40% of the company’s stock.

Institutional Trading of Worthington Enterprises

A number of institutional investors have recently bought and sold shares of WOR. EverSource Wealth Advisors LLC boosted its position in shares of Worthington Enterprises by 693.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 541 shares during the period. Quadrant Capital Group LLC acquired a new position in Worthington Enterprises during the third quarter worth approximately $107,000. State of Wyoming purchased a new stake in Worthington Enterprises in the second quarter valued at approximately $199,000. Security National Bank of SO Dak acquired a new stake in shares of Worthington Enterprises in the second quarter valued at approximately $210,000. Finally, SHUTTLEWORTH & Co acquired a new stake in shares of Worthington Enterprises in the third quarter valued at approximately $226,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Zacks Research cut shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Canaccord Genuity Group lowered their price objective on shares of Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, October 8th. CJS Securities upgraded Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a report on Wednesday, September 24th. Finally, Wall Street Zen cut Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Worthington Enterprises has a consensus rating of “Moderate Buy” and a consensus price target of $62.33.

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.