Worthington Enterprises (NYSE:WOR) Issues Earnings Results

Worthington Enterprises (NYSE:WOR) released its quarterly earnings results on Tuesday. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07), Zacks reports. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%.

Worthington Enterprises Stock Down 0.6%

Shares of NYSE:WOR traded down $0.38 during midday trading on Tuesday, hitting $61.11. The stock had a trading volume of 347,067 shares, compared to its average volume of 190,217. Worthington Enterprises has a 12 month low of $45.01 and a 12 month high of $70.91. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $56.15 and its 200-day simple moving average is $54.58. The company has a market cap of $3.01 billion, a P/E ratio of 27.16 and a beta of 1.28.

Institutional Trading of Worthington Enterprises

Large investors have recently added to or reduced their stakes in the company. Windsor Advisory Group LLC bought a new position in shares of Worthington Enterprises in the 3rd quarter valued at about $16,319,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Worthington Enterprises by 67.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company’s stock valued at $26,721,000 after purchasing an additional 193,319 shares during the period. Millennium Management LLC raised its holdings in shares of Worthington Enterprises by 54.9% in the 1st quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock valued at $17,656,000 after purchasing an additional 124,867 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Worthington Enterprises in the 3rd quarter valued at about $6,438,000. Finally, Invesco Ltd. lifted its stake in Worthington Enterprises by 72.7% in the 3rd quarter. Invesco Ltd. now owns 272,619 shares of the industrial products company’s stock valued at $15,128,000 after purchasing an additional 114,779 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WOR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research report on Monday, April 20th. Wall Street Zen upgraded Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $69.00 price target on shares of Worthington Enterprises in a research report on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Worthington Enterprises currently has a consensus rating of “Hold” and an average target price of $61.00.

About Worthington Enterprises

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.