Worthington Enterprises, Inc. (NYSE:WOR) Short Interest Down 22.3% in March

Worthington Enterprises, Inc. (NYSE:WOR) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 917,300 shares, a decrease of 22.3% from the March 15th total of 1,180,000 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily volume of 399,000 shares, the days-to-cover ratio is currently 2.3 days.

Analysts Set New Price Targets

A number of analysts recently commented on WOR shares. Canaccord Genuity Group lifted their price objective on shares of Worthington Enterprises from $49.00 to $54.00 and gave the stock a “hold” rating in a research report on Thursday, March 27th. The Goldman Sachs Group lifted their target price on Worthington Enterprises from $39.00 to $44.00 and gave the company a “sell” rating in a report on Thursday, April 3rd. Finally, Seaport Res Ptn raised shares of Worthington Enterprises to a “strong-buy” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WOR. Quadrant Capital Group LLC boosted its holdings in Worthington Enterprises by 121.0% in the 4th quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company’s stock worth $33,000 after buying an additional 455 shares during the period. Anchor Investment Management LLC purchased a new position in Worthington Enterprises during the fourth quarter valued at $40,000. State of Wyoming purchased a new stake in Worthington Enterprises in the 4th quarter worth $51,000. Itau Unibanco Holding S.A. lifted its position in shares of Worthington Enterprises by 41.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company’s stock worth $68,000 after buying an additional 501 shares in the last quarter. Finally, KBC Group NV increased its stake in Worthington Enterprises by 63.7% in the 4th quarter. KBC Group NV now owns 1,860 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 724 shares during the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Down 1.9 %

Worthington Enterprises stock traded down $0.90 during trading hours on Monday, hitting $46.49. 260,373 shares of the stock traded hands, compared to its average volume of 304,736. The company has a market cap of $2.32 billion, a PE ratio of 56.01 and a beta of 1.06. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $44.22 and its two-hundred day moving average price is $41.96. Worthington Enterprises has a one year low of $37.88 and a one year high of $60.71.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. The company had revenue of $304.52 million for the quarter, compared to the consensus estimate of $289.09 million. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. On average, research analysts forecast that Worthington Enterprises will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.46%. Worthington Enterprises’s payout ratio is 57.63%.

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.