Raymond James Financial Inc. Buys New Shares in Worthington Enterprises, Inc. (NYSE:WOR)

Raymond James Financial Inc. acquired a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,825 shares of the industrial products company's stock, valued at approximately $394,000.

Several other institutional investors have also bought and sold shares of the company. Legal & General Group Plc lifted its stake in Worthington Enterprises by 0.9% in the fourth quarter. Legal & General Group Plc now owns 92,960 shares of the industrial products company's stock valued at $3,729,000 after purchasing an additional 819 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Worthington Enterprises by 121.0% in the fourth quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 455 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Worthington Enterprises by 19.2% in the fourth quarter. Wells Fargo & Company MN now owns 27,762 shares of the industrial products company's stock valued at $1,114,000 after purchasing an additional 4,474 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Worthington Enterprises during the fourth quarter worth $2,333,000. Finally, Wellington Management Group LLP lifted its position in shares of Worthington Enterprises by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 69,680 shares of the industrial products company's stock worth $2,795,000 after acquiring an additional 1,548 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Analysts Set New Price Targets

WOR has been the topic of several recent research reports. Seaport Res Ptn upgraded Worthington Enterprises to a "strong-buy" rating in a research report on Wednesday, January 29th. Canaccord Genuity Group upgraded Worthington Enterprises from a "hold" rating to a "buy" rating and increased their target price for the stock from $54.00 to $67.00 in a research report on Monday, May 5th. Finally, The Goldman Sachs Group increased their target price on Worthington Enterprises from $39.00 to $44.00 and gave the stock a "sell" rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $52.33.

Worthington Enterprises Price Performance

Shares of Worthington Enterprises stock traded down $0.47 during trading on Thursday, hitting $59.07. The stock had a trading volume of 27,730 shares, compared to its average volume of 309,336. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 71.07 and a beta of 1.18. Worthington Enterprises, Inc. has a 12 month low of $37.88 and a 12 month high of $61.71. The business's 50-day moving average is $47.91 and its 200 day moving average is $43.44. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. The firm had revenue of $304.52 million for the quarter, compared to analysts' expectations of $289.09 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. As a group, sell-side analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.15%. Worthington Enterprises's dividend payout ratio is presently 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.