Short Interest in Worthington Enterprises, Inc. (NYSE:WOR) Declines By 17.6%

Worthington Enterprises, Inc. (NYSE:WOR) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 1,220,000 shares, a drop of 17.6% from the March 31st total of 1,480,000 shares. Based on an average trading volume of 297,200 shares, the days-to-cover ratio is currently 4.1 days. Approximately 3.9% of the company’s stock are sold short.

Insider Activity at Worthington Enterprises

In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of Worthington Enterprises stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $62.25, for a total value of $62,250.00. Following the transaction, the director now owns 41,688 shares of the company’s stock, valued at $2,595,078. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of Worthington Enterprises stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $62.25, for a total value of $62,250.00. Following the transaction, the director now owns 41,688 shares of the company’s stock, valued at $2,595,078. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Endres sold 66,000 shares of Worthington Enterprises stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $64.26, for a total transaction of $4,241,160.00. Following the completion of the transaction, the director now directly owns 76,689 shares in the company, valued at approximately $4,928,035.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,000 shares of company stock valued at $4,364,750. 38.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Worthington Enterprises

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Worthington Enterprises during the third quarter worth $31,000. Millburn Ridgefield Corp lifted its holdings in shares of Worthington Enterprises by 55.7% during the fourth quarter. Millburn Ridgefield Corp now owns 576 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 206 shares during the period. FSC Wealth Advisors LLC bought a new position in shares of Worthington Enterprises during the third quarter valued at $35,000. GAMMA Investing LLC bought a new position in shares of Worthington Enterprises during the fourth quarter valued at $53,000. Finally, Neo Ivy Capital Management bought a new position in shares of Worthington Enterprises during the fourth quarter valued at $81,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WOR shares. Canaccord Genuity Group lifted their price target on shares of Worthington Enterprises from $56.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, March 25th. The Goldman Sachs Group raised their price objective on shares of Worthington Enterprises from $50.00 to $56.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. Canaccord Genuity Group began coverage on shares of Worthington Enterprises in a research note on Tuesday, January 30th. They issued a “hold” rating and a $56.00 price objective on the stock. Finally, StockNews.com downgraded shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, Worthington Enterprises presently has an average rating of “Hold” and an average target price of $61.00.

Worthington Enterprises Trading Up 1.4 %

Shares of Worthington Enterprises stock opened at $58.41 on Friday. Worthington Enterprises has a 1 year low of $33.96 and a 1 year high of $69.96. The company has a current ratio of 3.42, a quick ratio of 2.47 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $61.27 and its 200-day simple moving average is $59.82. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 10.68 and a beta of 1.39.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Wednesday, March 20th. The industrial products company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.44). Worthington Enterprises had a return on equity of 19.40% and a net margin of 7.12%. The business had revenue of $316.76 million for the quarter, compared to analyst estimates of $326.70 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis.

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.