Bastion Asset Management Inc. Invests $3.46 Million in Worthington Enterprises, Inc. (NYSE:WOR)

Bastion Asset Management Inc. purchased a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 84,402 shares of the industrial products company's stock, valued at approximately $3,455,000. Worthington Enterprises comprises 2.3% of Bastion Asset Management Inc.'s portfolio, making the stock its 18th largest position. Bastion Asset Management Inc. owned approximately 0.17% of Worthington Enterprises as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WOR. Barclays PLC raised its position in Worthington Enterprises by 24.8% in the third quarter. Barclays PLC now owns 128,158 shares of the industrial products company's stock valued at $5,312,000 after purchasing an additional 25,453 shares during the period. Franklin Resources Inc. grew its stake in shares of Worthington Enterprises by 7.5% in the third quarter. Franklin Resources Inc. now owns 18,604 shares of the industrial products company's stock valued at $751,000 after buying an additional 1,293 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Worthington Enterprises in the 3rd quarter valued at $3,663,000. JPMorgan Chase & Co. lifted its stake in Worthington Enterprises by 90.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 138,115 shares of the industrial products company's stock worth $5,725,000 after acquiring an additional 65,685 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Worthington Enterprises by 63.7% during the 4th 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 during the period. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WOR. Canaccord Genuity Group raised shares of Worthington Enterprises from a "hold" rating to a "buy" rating and increased their price target for the stock from $54.00 to $67.00 in a research report on Monday. Seaport Res Ptn upgraded shares of Worthington Enterprises to a "strong-buy" rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group boosted their price target on shares of Worthington Enterprises from $39.00 to $44.00 and gave the stock a "sell" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Worthington Enterprises has an average rating of "Hold" and an average price target of $52.33.

Worthington Enterprises Stock Up 0.9 %

Shares of WOR traded up $0.48 during mid-day trading on Wednesday, reaching $56.63. The company's stock had a trading volume of 395,325 shares, compared to its average volume of 307,215. The company's 50 day moving average is $46.07 and its 200 day moving average is $42.76. The stock has a market cap of $2.83 billion, a PE ratio of 68.23 and a beta of 1.18. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $60.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50.

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

Worthington Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.20%. Worthington Enterprises's dividend payout ratio (DPR) is presently 57.63%.

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.