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

Wall Street Zen cut shares of Worthington Enterprises (NYSE:WOR) from a buy rating to a hold rating in a report released on Saturday morning.

Several other analysts have also recently weighed in on the company. Canaccord Genuity Group dropped their price target on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, December 18th. 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 research report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Worthington Enterprises Stock Performance

Shares of WOR stock opened at $52.22 on Friday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 24.63 and a beta of 1.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.26 and a current ratio of 3.26. The company has a 50-day simple moving average of $55.04 and a 200 day simple moving average of $59.34. Worthington Enterprises has a 52 week low of $38.63 and a 52 week high of $70.91.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results 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 company had revenue of $327.45 million during the quarter, compared to the consensus estimate of $310.60 million. Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. On average, sell-side analysts predict that Worthington Enterprises will post 2.67 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, March 13th. Worthington Enterprises’s payout ratio is 35.85%.

Hedge Funds Weigh In On Worthington Enterprises

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Worthington Enterprises by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,753,434 shares of the industrial products company’s stock worth $208,278,000 after acquiring an additional 15,894 shares during the period. American Century Companies Inc. raised its position in 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 purchasing an additional 188,783 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 worth $46,670,000 after purchasing an additional 8,293 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Worthington Enterprises by 67.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company’s stock valued at $26,721,000 after purchasing an additional 193,319 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Worthington Enterprises by 0.8% in the 2nd 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 purchasing an additional 3,248 shares in the last quarter. 51.59% of the stock is owned by institutional investors.

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.