Worthington Enterprises (NYSE:WOR) Price Target Raised to $75.00

Worthington Enterprises (NYSE:WOR) had its price objective lifted by Canaccord Genuity Group from $67.00 to $75.00 in a research report report published on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Wall Street Zen downgraded Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Worthington Enterprises Price Performance

Shares of Worthington Enterprises stock opened at $62.37 on Thursday. The business’s fifty day moving average price is $57.84 and its 200 day moving average price is $55.63. Worthington Enterprises has a twelve month low of $45.01 and a twelve month high of $67.54. The company has a current ratio of 2.67, a quick ratio of 1.43 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.05 billion, a P/E ratio of 18.84 and a beta of 1.30.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. The company had revenue of $343.89 million during the quarter, compared to analyst estimates of $331.26 million. Worthington Enterprises had a return on equity of 16.71% and a net margin of 11.50%.The firm’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. As a group, research analysts anticipate that Worthington Enterprises will post 3.8 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, December 15th. Worthington Enterprises’s dividend payout ratio is presently 24.17%.

Insider Buying and Selling at Worthington Enterprises

In other news, major shareholder John McConnell sold 17,625 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total transaction of $934,830.00. Following the completion of the sale, the insider directly owned 1,335,648 shares in the company, valued at $70,842,769.92. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Worthington Enterprises

A number of hedge funds have recently bought and sold shares of WOR. Security National Bank of SO Dak purchased a new stake in Worthington Enterprises during the 2nd quarter worth approximately $177,000. WINTON GROUP Ltd purchased a new position in shares of Worthington Enterprises during the 2nd quarter valued at approximately $308,000. Nykredit A S acquired a new stake in shares of Worthington Enterprises during the second quarter worth approximately $30,000. VELA Investment Management LLC grew its position in shares of Worthington Enterprises by 5.1% during the second quarter. VELA Investment Management LLC now owns 222,561 shares of the industrial products company’s stock worth $11,965,000 after buying an additional 10,760 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Worthington Enterprises in the second quarter worth $1,115,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc (NYSE: WOR) is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.