Short Interest in Worthington Enterprises, Inc. (NYSE:WOR) Increases By 25.4%

by · The Cerbat Gem

Worthington Enterprises, Inc. (NYSE:WORGet Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 891,056 shares, a growth of 25.4% from the March 15th total of 710,640 shares. Based on an average trading volume of 371,791 shares, the short-interest ratio is presently 2.4 days. Currently, 1.9% of the company’s stock are sold short.

Analyst Ratings Changes

WOR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $69.00 price objective on shares of Worthington Enterprises in a report on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.00.

Read Our Latest Research Report on Worthington Enterprises

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WOR. Allworth Financial LP boosted its holdings in Worthington Enterprises by 872.0% during the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 436 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Worthington Enterprises by 61.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 525 shares of the industrial products company’s stock valued at $29,000 after buying an additional 199 shares during the last quarter. McMillan Office Inc. bought a new position in shares of Worthington Enterprises during the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC lifted its position in shares of Worthington Enterprises by 81.3% during the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after buying an additional 304 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Worthington Enterprises by 823.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 757 shares of the industrial products company’s stock worth $39,000 after buying an additional 675 shares during the last quarter. 51.59% of the stock is owned by institutional investors.

Worthington Enterprises Stock Up 4.3%

WOR traded up $2.29 during midday trading on Friday, reaching $55.32. 205,455 shares of the company were exchanged, compared to its average volume of 290,757. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 24.59 and a beta of 1.32. Worthington Enterprises has a one year low of $45.01 and a one year high of $70.91. The company’s fifty day moving average price is $53.35 and its 200 day moving average price is $54.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36.

Worthington Enterprises (NYSE:WORGet Free Report) last posted its earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.The company had revenue of $378.68 million for the quarter, compared to analyst estimates of $349.41 million. During the same quarter last year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, analysts expect that Worthington Enterprises will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 15th. Worthington Enterprises’s payout ratio is currently 33.78%.

About Worthington Enterprises

(Get Free Report)

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.

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