Worthington Enterprises, Inc. (NYSE:WOR) Short Interest Down 22.3% in March

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 917,300 shares, a decrease of 22.3% from the March 15th total of 1,180,000 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 399,000 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WOR shares. The Goldman Sachs Group boosted their price target on shares of Worthington Enterprises from $39.00 to $44.00 and gave the stock a "sell" rating in a report on Thursday, April 3rd. Canaccord Genuity Group lifted their price objective on Worthington Enterprises from $49.00 to $54.00 and gave the stock a "hold" rating in a report on Thursday, March 27th. Finally, Seaport Res Ptn raised Worthington Enterprises to a "strong-buy" rating in a report on Wednesday, January 29th. One 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $48.00.

Worthington Enterprises Price Performance

Shares of NYSE:WOR traded up $1.63 during midday trading on Thursday, hitting $49.50. The company's stock had a trading volume of 209,472 shares, compared to its average volume of 304,802. The company has a market cap of $2.47 billion, a P/E ratio of 59.64 and a beta of 1.06. Worthington Enterprises has a 12-month low of $37.88 and a 12-month high of $60.71. The business's 50 day simple moving average is $44.48 and its 200 day simple moving average is $42.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.18. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business had revenue of $304.52 million for the quarter, compared to analyst estimates of $289.09 million. During the same period last year, the company posted $0.80 EPS. The business's revenue was down 3.9% on a year-over-year basis. On average, analysts forecast that Worthington Enterprises will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.37%. Worthington Enterprises's dividend payout ratio is presently 57.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WOR. Quadrant Capital Group LLC boosted its holdings in Worthington Enterprises by 121.0% in the 4th quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 455 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Worthington Enterprises during the 4th quarter valued at approximately $40,000. State of Wyoming acquired a new position in Worthington Enterprises in the fourth quarter valued at approximately $51,000. GAMMA Investing LLC grew its position in Worthington Enterprises by 77.2% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after acquiring an additional 716 shares during the period. Finally, Itau Unibanco Holding S.A. increased its stake in Worthington Enterprises by 41.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock worth $68,000 after acquiring an additional 501 shares during the last quarter. Institutional investors and hedge funds 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.