Canaccord Genuity Group Issues Positive Forecast for Worthington Enterprises (NYSE:WOR) Stock Price

Worthington Enterprises (NYSE:WOR) had its price target upped by Canaccord Genuity Group from $46.00 to $49.00 in a research report released on Thursday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

WOR has been the topic of a number of other reports. Canaccord Genuity Group dropped their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th.

Worthington Enterprises Stock Down 2.2 %

WOR stock opened at $41.22 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. Worthington Enterprises has a fifty-two week low of $37.88 and a fifty-two week high of $69.96. The stock’s 50 day simple moving average is $40.37 and its 200 day simple moving average is $44.34. The company has a market cap of $2.07 billion, a P/E ratio of 54.24 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The company had revenue of $274.05 million for the quarter, compared to analyst estimates of $273.77 million. During the same period in the prior year, the firm earned $0.78 earnings per share. Worthington Enterprises’s revenue for the quarter was down 8.1% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.65%. Worthington Enterprises’s dividend payout ratio is currently 81.93%.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek acquired 2,500 shares of the company’s stock in a transaction on Friday, October 11th. The shares were acquired at an average cost of $40.21 per share, with a total value of $100,525.00. Following the completion of the acquisition, the chief financial officer now directly owns 168,875 shares in the company, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.50% of the stock is currently owned by company insiders.

Institutional Trading of Worthington Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV boosted its holdings in Worthington Enterprises by 45.1% in the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock worth $47,000 after buying an additional 353 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Worthington Enterprises in the second quarter worth $57,000. nVerses Capital LLC purchased a new position in shares of Worthington Enterprises in the third quarter valued at $83,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Worthington Enterprises in the third quarter valued at $85,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Worthington Enterprises during the 3rd quarter valued at $110,000. Institutional investors own 51.59% of the company’s stock.

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.