Principal Financial Group Inc. Boosts Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Principal Financial Group Inc. raised its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,928 shares of the industrial products company’s stock after acquiring an additional 2,930 shares during the period. Principal Financial Group Inc.’s holdings in Worthington Enterprises were worth $7,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Worthington Enterprises by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 533,276 shares of the industrial products company’s stock valued at $21,390,000 after acquiring an additional 39,996 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Worthington Enterprises by 113.7% in the 4th quarter. Victory Capital Management Inc. now owns 29,814 shares of the industrial products company’s stock worth $1,196,000 after buying an additional 15,864 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Worthington Enterprises in the 4th quarter worth $478,000. Raymond James Financial Inc. purchased a new stake in shares of Worthington Enterprises in the 4th quarter worth $394,000. Finally, Amundi lifted its holdings in shares of Worthington Enterprises by 170.3% in the 4th quarter. Amundi now owns 15,777 shares of the industrial products company’s stock worth $625,000 after buying an additional 9,941 shares during the period. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Trading Down 1.9%

WOR opened at $62.77 on Wednesday. Worthington Enterprises, Inc. has a 12 month low of $37.88 and a 12 month high of $70.91. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 32.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62. The business has a fifty day moving average price of $60.72 and a 200 day moving average price of $49.82.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.22. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%. The business had revenue of $317.88 million for the quarter, compared to analyst estimates of $300.96 million. During the same quarter last year, the company earned $0.74 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.19 dividend. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Worthington Enterprises’s payout ratio is presently 35.60%.

Analyst Ratings Changes

WOR has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Worthington Enterprises from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, June 26th. Canaccord Genuity Group raised their target price on Worthington Enterprises from $69.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.00.

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.