KLP Kapitalforvaltning AS Purchases Shares of 7,500 Worthington Enterprises, Inc. (NYSE:WOR)

KLP Kapitalforvaltning AS purchased a new position in Worthington Enterprises, Inc. (NYSE:WOR) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 7,500 shares of the industrial products company’s stock, valued at approximately $301,000.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of Worthington Enterprises in the fourth quarter worth $478,000. Amundi increased its holdings in Worthington Enterprises by 170.3% in the 4th quarter. Amundi now owns 15,777 shares of the industrial products company’s stock valued at $625,000 after acquiring an additional 9,941 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $33,739,000 after purchasing an additional 25,824 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Worthington Enterprises by 90.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 138,115 shares of the industrial products company’s stock worth $5,725,000 after purchasing an additional 65,685 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Worthington Enterprises during the 3rd quarter valued at about $1,014,000. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Trading Down 3.4 %

Shares of NYSE WOR opened at $46.42 on Monday. Worthington Enterprises, Inc. has a 1-year low of $37.88 and a 1-year high of $62.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. The business’s 50 day moving average is $43.12 and its two-hundred day moving average is $41.62. The stock has a market capitalization of $2.32 billion, a P/E ratio of 55.93 and a beta of 1.06.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The firm had revenue of $304.52 million during the quarter, compared to analysts’ expectations of $289.09 million. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, research analysts expect that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 is currently 57.63%.

Analyst Ratings Changes

A number of equities research analysts recently commented on WOR shares. Seaport Res Ptn upgraded Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group upped their price objective on Worthington Enterprises from $39.00 to $44.00 and gave the stock a “sell” rating in a report on Thursday. Finally, Canaccord Genuity Group raised their target price on shares of Worthington Enterprises from $49.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.00.

Worthington Enterprises 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.