Worthington Enterprises (NYSE:WOR) Hits New 1-Year Low – Time to Sell?

Shares of Worthington Enterprises, Inc. (NYSE:WOR) reached a new 52-week low during trading on Tuesday . The stock traded as low as $38.16 and last traded at $38.33, with a volume of 42113 shares traded. The stock had previously closed at $38.68.

Analysts Set New Price Targets

WOR has been the subject of a number of research reports. Canaccord Genuity Group decreased their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group boosted their target price on Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday.

Worthington Enterprises Stock Down 2.2 %

The business’s fifty day moving average price is $40.33 and its two-hundred day moving average price is $44.36. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.07 billion, a P/E ratio of 54.24 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The business had revenue of $274.05 million for the quarter, compared to analyst estimates of $273.77 million. During the same quarter in the prior year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.65%. Worthington Enterprises’s dividend payout ratio is currently 81.93%.

Insider Transactions at Worthington Enterprises

In related news, CFO Joseph B. Hayek bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were acquired at an average price of $40.21 per share, with a total value of $100,525.00. Following the completion of the transaction, the chief financial officer now owns 168,875 shares of the company’s stock, valued at $6,790,463.75. The trade was a 1.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 37.50% of the company’s stock.

Institutional Trading of Worthington Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in shares of Worthington Enterprises by 170.6% in the second quarter. SG Americas Securities LLC now owns 6,429 shares of the industrial products company’s stock valued at $304,000 after buying an additional 4,053 shares during the period. Louisiana State Employees Retirement System raised its holdings in Worthington Enterprises by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company’s stock valued at $729,000 after acquiring an additional 300 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in Worthington Enterprises in the 2nd quarter valued at approximately $2,044,000. IFG Advisory LLC lifted its position in shares of Worthington Enterprises by 30.6% in the 2nd quarter. IFG Advisory LLC now owns 15,666 shares of the industrial products company’s stock worth $741,000 after acquiring an additional 3,666 shares during the period. Finally, Private Wealth Strategies L.L.C. acquired a new stake in shares of Worthington Enterprises during the 2nd quarter worth approximately $3,913,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.