New York State Teachers Retirement System reduced its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR – Free Report) by 28.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 32,382 shares of the industrial products company’s stock after selling 12,722 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Worthington Enterprises worth $1,688,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WOR. ProShare Advisors LLC raised its position in Worthington Enterprises by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 6,114 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 189 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Worthington Enterprises by 1.3% during the 4th quarter. State of Alaska Department of Revenue now owns 19,385 shares of the industrial products company’s stock valued at $999,000 after purchasing an additional 240 shares during the last quarter. Farther Finance Advisors LLC raised its holdings 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 valued at $35,000 after buying an additional 304 shares in the last quarter. Amplify Investments LLC raised its holdings in shares of Worthington Enterprises by 21.4% during the 4th quarter. Amplify Investments LLC now owns 1,802 shares of the industrial products company’s stock valued at $93,000 after buying an additional 318 shares in the last quarter. Finally, Boothbay Fund Management LLC lifted its position in Worthington Enterprises by 7.5% in the 3rd quarter. Boothbay Fund Management LLC now owns 4,685 shares of the industrial products company’s stock worth $260,000 after buying an additional 326 shares during the last quarter. 51.59% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Monday, April 20th. Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Canaccord Genuity Group cut their price objective on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.50.
Worthington Enterprises Trading Up 2.9%
WOR traded up $1.51 on Friday, hitting $54.27. 267,341 shares of the company were exchanged, compared to its average volume of 348,377. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. The firm has a fifty day simple moving average of $56.18 and a two-hundred day simple moving average of $54.51. The stock has a market capitalization of $2.67 billion, a PE ratio of 17.28 and a beta of 1.29. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $67.80.
Worthington Enterprises (NYSE:WOR – Get Free Report) last announced its quarterly earnings data on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The company had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same quarter in the previous year, the firm posted $1.06 EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. Sell-side analysts expect that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current year.
Worthington Enterprises Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s dividend payout ratio is currently 24.20%.
Worthington Enterprises Company Profile
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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