Worthington Enterprises (NYSE:WOR) Hits New 12-Month Low – Here’s What Happened

Shares of Worthington Enterprises, Inc. (NYSE:WOR) hit a new 52-week low during trading on Wednesday . The company traded as low as $38.24 and last traded at $38.36, with a volume of 59205 shares traded. The stock had previously closed at $38.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $46.00 price target on shares of Worthington Enterprises in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, Worthington Enterprises has an average rating of “Hold” and an average target price of $45.00.

Worthington Enterprises Stock Performance

The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 50.49 and a beta of 1.26. The stock’s 50 day moving average is $41.45 and its two-hundred day moving average is $46.87. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The firm had revenue of $257.31 million during the quarter, compared to analyst estimates of $296.05 million. During the same quarter last year, the business posted $2.06 EPS. The firm’s revenue was down 17.5% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, December 13th. Worthington Enterprises’s dividend payout ratio (DPR) is 89.47%.

Insider Activity at Worthington Enterprises

In related news, CFO Joseph B. Hayek bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were acquired at an average cost of $40.21 per share, with a total value of $100,525.00. Following the completion of the transaction, the chief financial officer now owns 168,875 shares of the company’s stock, valued at approximately $6,790,463.75. The trade was a 1.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 37.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV lifted its position in shares of Worthington Enterprises by 45.1% during the third quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 353 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Worthington Enterprises during the second quarter worth $57,000. nVerses Capital LLC bought a new stake in shares of Worthington Enterprises in the third quarter worth $83,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Worthington Enterprises in the third quarter worth $85,000. Finally, EntryPoint Capital LLC increased its stake in shares of Worthington Enterprises by 255.3% in the first quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock worth $107,000 after buying an additional 1,238 shares during the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

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.