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

by · The Markets Daily

Worthington Enterprises, Inc. (NYSE:WOR – Get Free Report) saw a large decrease in short interest in 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. Currently, 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 399,000 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

WOR has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their target price on Worthington Enterprises from $49.00 to $54.00 and gave the stock a “hold” rating in a research note on Thursday, March 27th. Seaport Res Ptn upgraded Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group increased 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.00.

Get Our Latest Research Report on Worthington Enterprises

Institutional Trading of Worthington Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in shares of Worthington Enterprises by 9.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company’s stock worth $71,032,000 after purchasing an additional 156,762 shares in the last quarter. Geode Capital Management LLC raised its holdings in Worthington Enterprises by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 813,828 shares of the industrial products company’s stock valued at $33,739,000 after acquiring an additional 25,824 shares during the last quarter. American Century Companies Inc. lifted its position in Worthington Enterprises by 11.5% during the fourth quarter. American Century Companies Inc. now owns 662,149 shares of the industrial products company’s stock worth $26,559,000 after buying an additional 68,363 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Worthington Enterprises by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 533,276 shares of the industrial products company’s stock worth $21,390,000 after acquiring an additional 39,996 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Worthington Enterprises by 3.6% in the 4th quarter. Bank of New York Mellon Corp now owns 414,546 shares of the industrial products company’s stock valued at $16,627,000 after purchasing an additional 14,328 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Down 1.9 %

NYSE:WOR traded down $0.90 during midday trading on Monday, reaching $46.49. The company had a trading volume of 260,373 shares, compared to its average volume of 304,736. Worthington Enterprises has a 12-month low of $37.88 and a 12-month high of $60.71. The firm has a market capitalization of $2.32 billion, a price-to-earnings 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 stock’s fifty day simple moving average is $44.22 and its 200-day simple moving average is $41.96.

Worthington Enterprises (NYSE:WOR – Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The company had revenue of $304.52 million for the quarter, compared to analysts’ expectations of $289.09 million. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Worthington Enterprises will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.46%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 57.63%.

Worthington Enterprises Company Profile

(Get Free Report)

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.

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