Worthington Enterprises (NYSE:WOR) Price Target Raised to $54.00

Worthington Enterprises (NYSE:WOR) had its price target boosted by Canaccord Genuity Group from $49.00 to $54.00 in a research note published on Thursday,Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

Separately, Seaport Res Ptn raised shares of Worthington Enterprises to a “strong-buy” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.67.

Worthington Enterprises Stock Down 2.2 %

Shares of WOR stock opened at $50.44 on Thursday. Worthington Enterprises has a 12 month low of $37.88 and a 12 month high of $62.56. The company has a 50 day simple moving average of $42.39 and a two-hundred day simple moving average of $41.49. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.52 billion, a P/E ratio of 60.77 and a beta of 1.21.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data on Tuesday, March 25th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.73 by $0.18. The firm had revenue of $304.52 million for the quarter, compared to the consensus estimate of $289.09 million. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. On average, research analysts expect that Worthington Enterprises will post 2.67 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.35%. Worthington Enterprises’s dividend payout ratio is currently 57.63%.

Institutional Trading of Worthington Enterprises

Hedge funds have recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Worthington Enterprises during the fourth quarter valued at $478,000. Amundi increased its stake in Worthington Enterprises by 170.3% during the fourth quarter. Amundi now owns 15,777 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 9,941 shares during the last quarter. Geode Capital Management LLC raised its position in Worthington Enterprises by 3.3% during the third quarter. Geode Capital Management LLC now owns 813,828 shares of the industrial products company’s stock valued at $33,739,000 after purchasing an additional 25,824 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Worthington Enterprises by 90.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 138,115 shares of the industrial products company’s stock worth $5,725,000 after purchasing an additional 65,685 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Worthington Enterprises by 24.8% during the 3rd quarter. Fisher Asset Management LLC now owns 70,265 shares of the industrial products company’s stock valued at $2,912,000 after purchasing an additional 13,974 shares during the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.