Worthington Enterprises (NYSE:WOR) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Worthington Enterprises, Inc. (NYSE:WOR)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $55.00 and traded as high as $58.66. Worthington Enterprises shares last traded at $58.4660, with a volume of 105,666 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WOR. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Canaccord Genuity Group reduced their price objective on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Worthington Enterprises Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. The stock has a fifty day simple moving average of $56.69 and a two-hundred day simple moving average of $55.00. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 18.62 and a beta of 1.28.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The business had revenue of $371.46 million during the quarter, compared to analyst estimates of $386.49 million. During the same period in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. Analysts forecast that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.20 per share. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is 24.20%.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, major shareholder John P/Oh Mcconnell sold 41,704 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $55.85, for a total value of $2,329,168.40. Following the completion of the transaction, the insider owned 1,335,648 shares in the company, valued at $74,595,940.80. This represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Worthington Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Worthington Enterprises during the second quarter worth about $283,372,000. Geode Capital Management LLC lifted its stake in Worthington Enterprises by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 768,013 shares of the industrial products company’s stock worth $39,613,000 after purchasing an additional 4,745 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in 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 during the period. Windsor Advisory Group LLC grew its position in shares of Worthington Enterprises by 23.5% during the 1st quarter. Windsor Advisory Group LLC now owns 459,633 shares of the industrial products company’s stock valued at $23,965,000 after purchasing an additional 87,351 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Worthington Enterprises during the 1st quarter valued at $23,824,000. 51.59% of the stock is owned by hedge funds and other 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.