Worthington Enterprises, Inc. (NYSE:WOR) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 69,680 shares of the industrial products company’s stock after purchasing an additional 1,548 shares during the period. Wellington Management Group LLP’s holdings in Worthington Enterprises were worth $2,795,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV boosted its stake in Worthington Enterprises by 63.7% in the fourth quarter. KBC Group NV now owns 1,860 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 724 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Worthington Enterprises in the 4th quarter valued at about $205,000. EntryPoint Capital LLC acquired a new stake in shares of Worthington Enterprises in the 4th quarter valued at about $240,000. AXQ Capital LP purchased a new position in Worthington Enterprises during the 4th quarter worth approximately $246,000. Finally, XTX Topco Ltd acquired a new position in Worthington Enterprises during the third quarter worth approximately $257,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WOR. Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on shares of Worthington Enterprises from $39.00 to $44.00 and gave the stock a “sell” rating in a research report on Thursday, April 3rd. Finally, Canaccord Genuity Group upped 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 equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.00.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $47.59 on Friday. The business has a 50 day simple moving average of $43.71 and a 200-day simple moving average of $41.73. Worthington Enterprises, Inc. has a 12 month low of $37.88 and a 12 month high of $60.71. 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 stock has a market capitalization of $2.38 billion, a PE ratio of 57.33 and a beta of 1.06.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $289.09 million. During the same quarter last year, the business earned $0.80 EPS. The business’s revenue was down 3.9% on a year-over-year basis. Equities analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.43%. Worthington Enterprises’s dividend payout ratio is currently 57.63%.

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.