Worthington Enterprises (NYSE:WOR) Announces Quarterly Earnings Results

Worthington Enterprises (NYSE:WOR) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.22, Zacks reports. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.75%. The company had revenue of $317.88 million for the quarter, compared to analysts’ expectations of $300.96 million. During the same period last year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $61.12 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.51 and a quick ratio of 2.60. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 32.00 and a beta of 1.19. The stock’s 50-day moving average is $56.51 and its 200-day moving average is $47.38. Worthington Enterprises has a one year low of $37.88 and a one year high of $70.91.

Worthington Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.19 dividend. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.24%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 57.63%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WOR. The Goldman Sachs Group upped their price objective on shares of Worthington Enterprises from $39.00 to $44.00 and gave the company a “sell” rating in a research report on Thursday, April 3rd. Canaccord Genuity Group increased their price target on Worthington Enterprises from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.00.

Institutional Investors Weigh In On Worthington Enterprises

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Worthington Enterprises by 4.5% during the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after acquiring an additional 554 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Worthington Enterprises by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 793 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Worthington Enterprises by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after purchasing an additional 7,575 shares in the last quarter. AQR Capital Management LLC acquired a new position in Worthington Enterprises during the first quarter worth $533,000. Finally, Millennium Management LLC grew its position in Worthington Enterprises by 54.9% in the first 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 in the last quarter. Institutional investors 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.