Worthington Enterprises, Inc. (NYSE:WOR) Receives $61.00 Average Price Target from Brokerages

Shares of Worthington Enterprises, Inc. (NYSE:WOR) have been assigned an average rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to 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 recently weighed in on the company. Canaccord Genuity Group lowered their target price on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th.

Hedge Funds Weigh In On Worthington Enterprises

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Worthington Enterprises by 4.5% during the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 554 shares during the period. AQR Capital Management LLC bought a new stake in Worthington Enterprises during the first quarter valued at about $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Worthington Enterprises by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock valued at $937,000 after acquiring an additional 793 shares during the period. Millennium Management LLC lifted its position 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 acquiring an additional 124,867 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Worthington Enterprises by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after acquiring an additional 7,575 shares during the period. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Price Performance

NYSE WOR opened at $49.57 on Friday. Worthington Enterprises has a 52 week low of $39.05 and a 52 week high of $70.91. The firm has a market capitalization of $2.46 billion, a P/E ratio of 23.38 and a beta of 1.32. The company has a quick ratio of 2.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $54.81 and a 200-day moving average price of $56.42.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, December 16th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $327.45 million during the quarter, compared to the consensus estimate of $310.60 million. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.46%.Worthington Enterprises’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. Equities research analysts anticipate that Worthington Enterprises will post 2.67 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.5%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 35.85%.

About Worthington Enterprises

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.