Worthington Enterprises (NYSE:WOR) Hits New 52-Week Low – What’s Next?

Worthington Enterprises, Inc. (NYSE:WOR) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $38.16 and last traded at $38.33, with a volume of 42113 shares changing hands. The stock had previously closed at $38.68.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WOR shares. StockNews.com upgraded shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Canaccord Genuity Group reiterated a “hold” rating and issued a $46.00 price target on shares of Worthington Enterprises in a report on Friday, October 4th. Finally, Canaccord Genuity Group dropped their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, September 26th.

Worthington Enterprises Stock Performance

The firm has a fifty day moving average price of $40.35 and a two-hundred day moving average price of $44.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34. The stock has a market capitalization of $1.91 billion, a PE ratio of 50.89 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The company had revenue of $257.31 million during the quarter, compared to the consensus estimate of $296.05 million. During the same quarter in the prior year, the company earned $2.06 earnings per share. Worthington Enterprises’s revenue was down 17.5% on a year-over-year basis.

Worthington Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.79%. Worthington Enterprises’s dividend payout ratio is presently 89.47%.

Insider Transactions at Worthington Enterprises

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

Institutional Trading of Worthington Enterprises

Large investors have recently added to or reduced their stakes in the company. KBC Group NV grew its position in Worthington Enterprises by 45.1% during the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 353 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Worthington Enterprises during the second quarter valued at approximately $57,000. nVerses Capital LLC acquired a new position in Worthington Enterprises in the third quarter valued at approximately $83,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Worthington Enterprises during the 3rd quarter worth approximately $85,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Worthington Enterprises during the 3rd quarter worth approximately $110,000. Hedge funds and other 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.