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

Worthington Enterprises (NYSE:WOR) issued its earnings results on Tuesday. The industrial products company reported $0.65 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 Performance

Shares of NYSE WOR traded down $1.49 during trading on Tuesday, reaching $56.25. 538,671 shares of the company traded hands, compared to its average volume of 288,306. The stock has a market cap of $2.79 billion, a P/E ratio of 26.41 and a beta of 1.33. The firm’s fifty day simple moving average is $55.64 and its 200 day simple moving average is $59.82. The company has a current ratio of 3.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.32. Worthington Enterprises has a 12-month low of $37.88 and a 12-month high of $70.91.

Worthington Enterprises Dividend Announcement

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

Insider Transactions at Worthington Enterprises

In other news, Director Michael J. Endres purchased 10,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were purchased at an average cost of $52.95 per share, with a total value of $529,500.00. Following the completion of the acquisition, the director owned 95,524 shares of the company’s stock, valued at approximately $5,057,995.80. This represents a 11.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Worthington Enterprises

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in Worthington Enterprises by 4.5% in the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 554 shares in the last quarter. PharVision Advisers LLC increased its holdings in shares of Worthington Enterprises by 30.4% in the third quarter. PharVision Advisers LLC now owns 5,753 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 1,341 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Worthington Enterprises during the third quarter worth approximately $288,000. Boothbay Fund Management LLC acquired a new position in Worthington Enterprises during the second quarter worth $277,000. Finally, Coldstream Capital Management Inc. purchased a new stake in Worthington Enterprises in the 3rd quarter valued at $256,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WOR. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, October 8th. CJS Securities raised Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price target for the company in a report on Wednesday, September 24th. Zacks Research downgraded shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Wall Street Zen lowered shares of Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.33.

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.