Wedge Capital Management L L P NC Cuts Stake in Worthington Enterprises, Inc. (NYSE:WOR)

Wedge Capital Management L L P NC lessened its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,801 shares of the industrial products company’s stock after selling 8,091 shares during the period. Wedge Capital Management L L P NC owned approximately 0.14% of Worthington Enterprises worth $3,597,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Balyasny Asset Management L.P. boosted its stake in shares of Worthington Enterprises by 236.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company’s stock valued at $8,916,000 after purchasing an additional 156,173 shares during the period. Fisher Asset Management LLC grew its stake in Worthington Enterprises by 187.9% during the 4th quarter. Fisher Asset Management LLC now owns 202,305 shares of the industrial products company’s stock valued at $8,114,000 after purchasing an additional 132,040 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Worthington Enterprises by 132.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company’s stock valued at $8,236,000 after purchasing an additional 116,964 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Worthington Enterprises by 151.9% during the 4th quarter. Marshall Wace LLP now owns 181,650 shares of the industrial products company’s stock valued at $7,286,000 after buying an additional 109,525 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new stake in shares of Worthington Enterprises during the fourth quarter worth approximately $3,455,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Stock Up 1.0%

WOR opened at $60.82 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. Worthington Enterprises, Inc. has a 12 month low of $37.88 and a 12 month high of $61.71. The stock’s 50 day moving average price is $53.64 and its 200 day moving average price is $45.99. The stock has a market cap of $3.04 billion, a P/E ratio of 73.27 and a beta of 1.19.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data 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 business had revenue of $304.52 million during the quarter, compared to the consensus estimate of $289.09 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 earnings per share. As a group, research analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 yield of 1.12%. Worthington Enterprises’s payout ratio is 57.63%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WOR. The Goldman Sachs Group upped their target price on shares of Worthington Enterprises from $39.00 to $44.00 and gave the company a “sell” rating in a research note on Thursday, April 3rd. Canaccord Genuity Group upgraded shares of Worthington Enterprises from a “hold” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $67.00 in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $52.33.

About Worthington Enterprises

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.