Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report)'s share price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $41.63, but opened at $43.52. Worthington Enterprises shares last traded at $49.90, with a volume of 317,196 shares changing hands.
The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.73 by $0.18. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The company had revenue of $304.52 million during the quarter, compared to the consensus estimate of $289.09 million. During the same period last year, the business posted $0.80 EPS. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year.
Worthington Enterprises Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.35%. Worthington Enterprises's payout ratio is 57.63%.
Wall Street Analyst Weigh In
WOR has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price target on shares of Worthington Enterprises from $49.00 to $54.00 and gave the company a "hold" rating in a research note on Thursday. Seaport Res Ptn raised shares of Worthington Enterprises to a "strong-buy" rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $47.67.
View Our Latest Stock Report on Worthington Enterprises
Institutional Investors Weigh In On Worthington Enterprises
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in shares of Worthington Enterprises by 9.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company's stock worth $71,032,000 after acquiring an additional 156,762 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Worthington Enterprises by 236.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company's stock worth $8,916,000 after purchasing an additional 156,173 shares in the last quarter. Fisher Asset Management LLC increased its stake in Worthington Enterprises by 187.9% in the 4th quarter. Fisher Asset Management LLC now owns 202,305 shares of the industrial products company's stock valued at $8,114,000 after buying an additional 132,040 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Worthington Enterprises by 132.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company's stock valued at $8,236,000 after buying an additional 116,964 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Worthington Enterprises by 151.9% in the 4th quarter. Marshall Wace LLP now owns 181,650 shares of the industrial products company's stock worth $7,286,000 after buying an additional 109,525 shares during the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.
Worthington Enterprises Trading Down 2.2 %
The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. The company has a market capitalization of $2.52 billion, a P/E ratio of 60.77 and a beta of 1.21. The firm has a fifty day moving average price of $42.39 and a 200-day moving average price of $41.49.
Worthington Enterprises Company Profile
(
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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.
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