Worthington Enterprises (NYSE:WOR) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of Worthington Enterprises (NYSE:WOR) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Canaccord Genuity Group decreased their price target on Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. CJS Securities raised shares of Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research report on Wednesday, September 24th. The Goldman Sachs Group upped their target price on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, June 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.33.

Worthington Enterprises Trading Down 1.3%

Shares of WOR stock opened at $54.98 on Friday. The company’s 50-day moving average price is $61.88 and its 200-day moving average price is $58.70. The company has a current ratio of 3.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 25.81 and a beta of 1.17. Worthington Enterprises has a twelve month low of $37.88 and a twelve month high of $70.91.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Wednesday, December 28th. The industrial products company reported $2.12 earnings per share for the quarter. The company had revenue of $1.23 billion for the quarter. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.70%. As a group, equities analysts predict that Worthington Enterprises will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 35.68%.

Insiders Place Their Bets

In other news, Director Michael J. Endres acquired 10,000 shares of Worthington Enterprises stock in a transaction dated Thursday, September 25th. The shares were acquired at an average cost of $52.95 per share, for a total transaction of $529,500.00. Following the acquisition, the director owned 95,524 shares of the company’s stock, valued at $5,057,995.80. This trade represents a 11.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Worthington Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its position in shares of Worthington Enterprises by 3.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,930 shares of the industrial products company’s stock worth $314,000 after acquiring an additional 173 shares in the last quarter. CWM LLC raised its holdings in Worthington Enterprises by 33.5% during the second quarter. CWM LLC now owns 813 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 204 shares in the last quarter. VELA Investment Management LLC raised its holdings in Worthington Enterprises by 0.7% during the second quarter. VELA Investment Management LLC now owns 31,363 shares of the industrial products company’s stock worth $1,996,000 after purchasing an additional 213 shares in the last quarter. ORG Partners LLC raised its holdings in Worthington Enterprises by 61.0% during the second quarter. ORG Partners LLC now owns 660 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 250 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Worthington Enterprises by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 33,460 shares of the industrial products company’s stock worth $2,129,000 after purchasing an additional 255 shares in the last quarter. 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.