Corebridge Financial Inc. Cuts Position in Worthington Enterprises, Inc. $WOR

Corebridge Financial Inc. decreased its holdings in Worthington Enterprises, Inc. (NYSE:WOR) by 1.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,420 shares of the industrial products company’s stock after selling 325 shares during the quarter. Corebridge Financial Inc.’s holdings in Worthington Enterprises were worth $822,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WOR. Raymond James Financial Inc. purchased a new position in Worthington Enterprises in the fourth quarter valued at approximately $394,000. Tower Research Capital LLC TRC raised its stake in shares of Worthington Enterprises by 23.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 585 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Worthington Enterprises during the fourth quarter valued at approximately $207,000. Price T Rowe Associates Inc. MD raised its stake in shares of Worthington Enterprises by 6.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,257 shares of the industrial products company’s stock valued at $933,000 after purchasing an additional 1,324 shares during the period. Finally, Voya Investment Management LLC raised its stake in shares of Worthington Enterprises by 50.1% during the fourth quarter. Voya Investment Management LLC now owns 15,652 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 5,222 shares during the period. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Down 0.5%

WOR stock opened at $65.03 on Friday. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $70.91. The company has a current ratio of 3.48, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.24 billion, a P/E ratio of 34.05 and a beta of 1.20. The firm has a 50 day simple moving average of $64.07 and a 200-day simple moving average of $55.65.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.22. The firm had revenue of $317.88 million during the quarter, compared to the consensus estimate of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. On average, equities research analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.19 dividend. The ex-dividend date is Monday, September 15th. This is a positive change from Worthington Enterprises’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. Worthington Enterprises’s dividend payout ratio (DPR) is 35.60%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Worthington Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 24th. The Goldman Sachs Group lifted their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, June 26th. Zacks Research lowered shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Finally, Canaccord Genuity Group lifted their price objective on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Worthington Enterprises presently has an average rating of “Hold” and an average price target of $59.00.

Worthington Enterprises Company 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.