Worthington Enterprises (NYSE:WOR) Reaches New 1-Year Low – Here’s Why

Worthington Enterprises, Inc. (NYSE:WOR) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $38.16 and last traded at $38.33, with a volume of 42113 shares changing hands. The stock had previously closed at $38.68.

Analyst Ratings Changes

Several research analysts recently weighed in 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 for the company in a research report on Thursday, September 26th. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $46.00 price target on shares of Worthington Enterprises in a research note on Friday, October 4th.

Worthington Enterprises Stock Performance

The firm has a market capitalization of $1.91 billion, a PE ratio of 50.89 and a beta of 1.26. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $40.35 and a 200 day moving average price of $44.51.

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

Worthington Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Enterprises’s dividend payout ratio (DPR) is presently 89.47%.

Insider Buying and Selling at Worthington Enterprises

In other news, CFO Joseph B. Hayek acquired 2,500 shares of Worthington Enterprises stock in a transaction on Friday, October 11th. The stock was bought at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the purchase, the chief financial officer now owns 168,875 shares in the company, valued at $6,790,463.75. This represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 37.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. KBC Group NV boosted its stake 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 buying an additional 353 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Worthington Enterprises during the 2nd quarter worth approximately $57,000. nVerses Capital LLC purchased a new position in shares of Worthington Enterprises in the 3rd quarter valued at approximately $83,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Worthington Enterprises in the third quarter valued at approximately $85,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Worthington Enterprises during the third quarter worth approximately $110,000. 51.59% of the stock is currently 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.