Worthington Enterprises (NYSE:WOR) Shares Down 5% – Here’s What Happened

Worthington Enterprises, Inc. (NYSE:WOR) shares fell 5% during mid-day trading on Wednesday . The stock traded as low as $39.37 and last traded at $39.54. 83,211 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 287,416 shares. The stock had previously closed at $41.61.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a report on Tuesday, July 2nd. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Worthington Enterprises in a report on Friday, October 4th. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group dropped their price objective on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, Worthington Enterprises currently has an average rating of “Hold” and a consensus price target of $45.00.

Worthington Enterprises Trading Down 5.4 %

The business has a fifty day simple moving average of $44.19 and a 200-day simple moving average of $50.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 17.81 and a beta of 1.25.

Worthington Enterprises (NYSE:WOR) last released its quarterly 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 net margin of 1.96% and a return on equity of 12.23%. The company had revenue of $257.31 million during the quarter, compared to the consensus estimate of $296.05 million. During the same quarter last year, the firm posted $2.06 EPS. The company’s quarterly revenue was down 17.5% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.73%. Worthington Enterprises’s payout ratio is 30.77%.

Institutional Investors Weigh In On Worthington Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in WOR. Fidelis Capital Partners LLC bought a new position in Worthington Enterprises in the first quarter worth approximately $38,000. Itau Unibanco Holding S.A. bought a new position in Worthington Enterprises in the second quarter worth approximately $57,000. Neo Ivy Capital Management bought a new position in Worthington Enterprises in the fourth quarter worth approximately $81,000. EntryPoint Capital LLC boosted its holdings in Worthington Enterprises by 255.3% in the first quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,238 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Worthington Enterprises by 19.7% in the first quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 391 shares in the last quarter. 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.