Worthington Enterprises, Inc. (NYSE:WOR – Get Free Report)’s share price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $60.15, but opened at $70.23. Worthington Enterprises shares last traded at $64.66, with a volume of 170,375 shares trading hands.
The industrial products company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.22. The firm had revenue of $317.88 million for the quarter, compared to the consensus estimate of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.75%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share.
Worthington Enterprises Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 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 1.24%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.17. Worthington Enterprises’s payout ratio is currently 57.63%.
Analyst Ratings Changes
Check Out Our Latest Stock Report on WOR
Hedge Funds Weigh In On Worthington Enterprises
Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Worthington Enterprises by 121.0% in the fourth quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company’s stock valued at $33,000 after buying an additional 455 shares during the last quarter. Quarry LP acquired a new position in shares of Worthington Enterprises in the first quarter valued at approximately $49,000. Anchor Investment Management LLC acquired a new position in shares of Worthington Enterprises in the fourth quarter valued at approximately $40,000. State of Wyoming acquired a new position in shares of Worthington Enterprises in the fourth quarter valued at approximately $51,000. Finally, Summit Securities Group LLC acquired a new position in shares of Worthington Enterprises in the first quarter valued at approximately $75,000. Institutional investors and hedge funds own 51.59% of the company’s stock.
Worthington Enterprises Trading Up 1.6%
The business’s 50-day moving average price is $56.51 and its two-hundred day moving average price is $47.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.51 and a quick ratio of 2.60. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 32.00 and a beta of 1.19.
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.
Featured Articles
- Five stocks we like better than Worthington Enterprises
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Top 3 Bank Stocks to Watch as Fed Rate Cuts Loom
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Uber and Tesla Surge on Robotaxis, Analyst Touts Texas Rides
- What is the Dow Jones Industrial Average (DJIA)?
- ASML Keeps Buying Back Its Own Stock—Chasing Discount and Upside
Receive News & Ratings for Worthington Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.