Worthington Enterprises (NYSE:WOR) Stock Price Breaks Below Fifty Day Moving Average – Time to Sell?

Shares of Worthington Enterprises, Inc. (NYSE:WOR – Get Free Report) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $61.27 and traded as low as $60.14. Worthington Enterprises shares last traded at $60.2580, with a volume of 241,618 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WOR. Canaccord Genuity Group upped their price target on shares of Worthington Enterprises from $67.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Weiss Ratings upgraded shares of Worthington Enterprises from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Worthington Enterprises presently has an average rating of “Moderate Buy” and an average price target of $75.00.

View Our Latest Report on Worthington Enterprises

Worthington Enterprises Stock Down 3.8%

The firm’s 50-day simple moving average is $61.27 and its 200 day simple moving average is $56.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.53 and a current ratio of 2.67. The stock has a market capitalization of $2.97 billion, a P/E ratio of 18.20 and a beta of 1.30.

Worthington Enterprises (NYSE:WOR – Get Free Report) last announced its quarterly earnings data on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. Worthington Enterprises had a return on equity of 16.71% and a net margin of 11.50%. The company had revenue of $343.89 million during the quarter, compared to analysts’ expectations of $331.26 million. During the same quarter last year, the company earned $0.74 EPS. Worthington Enterprises’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, research analysts expect that Worthington Enterprises, Inc. will post 3.80 EPS for the current year.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend 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 related news, major shareholder John McConnell sold 42,491 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $60.43, for a total transaction of $2,567,731.13. Following the transaction, the insider directly owned 1,335,648 shares in the company, valued at approximately $80,713,208.64. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Worthington Enterprises

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in Worthington Enterprises by 57.3% in the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 263 shares during the last quarter. Sei Investments Co. increased its position in Worthington Enterprises by 6.1% during the first quarter. Sei Investments Co. now owns 4,601 shares of the industrial products company’s stock worth $240,000 after buying an additional 264 shares during the last quarter. Sterling Capital Management LLC increased its position in Worthington Enterprises by 72.2% during the third quarter. Sterling Capital Management LLC now owns 773 shares of the industrial products company’s stock worth $46,000 after buying an additional 324 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Worthington Enterprises by 4.6% in the second quarter. Handelsbanken Fonder AB now owns 9,100 shares of the industrial products company’s stock valued at $489,000 after buying an additional 400 shares during the period. Finally, Verity Asset Management Inc. raised its stake in Worthington Enterprises by 2.6% in the third quarter. Verity Asset Management Inc. now owns 18,976 shares of the industrial products company’s stock valued at $1,130,000 after buying an additional 472 shares during the period. 51.59% of the stock is owned by institutional investors.

About Worthington Enterprises

(Get Free Report)

Worthington Enterprises designs and manufactures products for building and construction, consumer markets, and sustainable energy applications. Its offerings include pressure cylinders used for propane, industrial gases, and other applications, as well as products for residential water systems and construction. The company’s consumer products include outdoor living and heating products, hand torches, and fuel cylinders. Its portfolio also includes equipment and components intended for applications such as compressed natural gas and hydrogen storage.

See Also

Receive News & Ratings for Worthington Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.