Worthington Enterprises (NYSE:WOR) Reaches New 52-Week Low – Time to Sell?

Shares of Worthington Enterprises, Inc. (NYSE:WOR) reached a new 52-week low on Wednesday . The stock traded as low as $38.24 and last traded at $38.36, with a volume of 59205 shares trading hands. The stock had previously closed at $38.51.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Canaccord Genuity Group restated a “hold” rating and set a $46.00 price target on shares of Worthington Enterprises in a research report on Friday, October 4th. Canaccord Genuity Group lowered their price target on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Finally, StockNews.com upgraded shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.00.

Worthington Enterprises Stock Performance

The company has a market cap of $1.94 billion, a P/E ratio of 50.49 and a beta of 1.26. The firm has a 50 day moving average price of $41.45 and a 200-day moving average price of $46.87. 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 (NYSE:WOR) last announced its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.21). Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business had revenue of $257.31 million for the quarter, compared to the consensus estimate of $296.05 million. During the same quarter in the previous year, the company earned $2.06 EPS. Worthington Enterprises’s revenue for the quarter was down 17.5% compared to the same quarter last year.

Worthington Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.17 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. Worthington Enterprises’s payout ratio is presently 89.47%.

Insider Activity at Worthington Enterprises

In related news, CFO Joseph B. Hayek purchased 2,500 shares of Worthington Enterprises stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the transaction, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at approximately $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 37.50% of the company’s stock.

Institutional Investors Weigh In On Worthington Enterprises

Several institutional investors have recently bought and sold shares of WOR. American Century Companies Inc. increased its stake in shares of Worthington Enterprises by 43.7% during the 2nd quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock worth $26,916,000 after purchasing an additional 172,850 shares during the last quarter. Private Wealth Strategies L.L.C. acquired a new position in Worthington Enterprises in the 2nd quarter valued at about $3,913,000. Edgestream Partners L.P. acquired a new position in Worthington Enterprises in the 2nd quarter valued at about $3,060,000. Panagora Asset Management Inc. acquired a new position in Worthington Enterprises in the 2nd quarter valued at about $2,044,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Worthington Enterprises in the 3rd quarter valued at about $1,764,000. Institutional investors own 51.59% of the company’s stock.

About Worthington Enterprises

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.