Worthington Enterprises, Inc. (NYSE:WOR) Short Interest Update

Worthington Enterprises, Inc. (NYSE:WOR) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,540,000 shares, an increase of 29.4% from the May 31st total of 1,190,000 shares. Based on an average daily volume of 252,700 shares, the days-to-cover ratio is presently 6.1 days. Currently, 5.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

WOR has been the subject of a number of research analyst reports. StockNews.com cut shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday. The Goldman Sachs Group upped their target price on shares of Worthington Enterprises from $50.00 to $56.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. Finally, Canaccord Genuity Group lowered their price target on shares of Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.00.

Insider Buying and Selling

In other Worthington Enterprises news, Director Ozey K. Horton, Jr. sold 1,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $61.34, for a total value of $61,340.00. Following the sale, the director now owns 40,688 shares of the company’s stock, valued at approximately $2,495,801.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 38.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Worthington Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WOR. Envestnet Asset Management Inc. lifted its position in shares of Worthington Enterprises by 16.1% in the third quarter. Envestnet Asset Management Inc. now owns 106,612 shares of the industrial products company’s stock worth $6,591,000 after purchasing an additional 14,759 shares in the last quarter. FMR LLC grew its holdings in shares of Worthington Enterprises by 3,957.0% in the 3rd quarter. FMR LLC now owns 90,674 shares of the industrial products company’s stock valued at $5,605,000 after acquiring an additional 88,439 shares in the last quarter. Invesco Ltd. increased its position in shares of Worthington Enterprises by 39.6% in the third quarter. Invesco Ltd. now owns 273,139 shares of the industrial products company’s stock valued at $16,885,000 after acquiring an additional 77,471 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Worthington Enterprises by 286.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 34,798 shares of the industrial products company’s stock worth $2,151,000 after acquiring an additional 25,801 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in Worthington Enterprises by 109.6% in the third quarter. Trexquant Investment LP now owns 34,279 shares of the industrial products company’s stock valued at $2,119,000 after purchasing an additional 17,928 shares in the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Trading Up 0.7 %

Shares of WOR traded up $0.33 during trading hours on Friday, reaching $47.33. The stock had a trading volume of 1,679,119 shares, compared to its average volume of 357,967. The firm has a 50-day moving average of $55.55 and a 200 day moving average of $57.90. The company has a quick ratio of 2.47, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.37 billion, a P/E ratio of 21.42 and a beta of 1.35. Worthington Enterprises has a 52 week low of $36.29 and a 52 week high of $69.96.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, June 25th. The industrial products company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.14). Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. The business had revenue of $318.80 million for the quarter, compared to the consensus estimate of $352.82 million. During the same quarter last year, the firm earned $2.74 EPS. The company’s revenue for the quarter was down 13.6% on a year-over-year basis.

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.