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

Bastion Asset Management Inc. acquired a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 84,402 shares of the industrial products company's stock, valued at approximately $3,455,000. Worthington Enterprises accounts for about 2.3% of Bastion Asset Management Inc.'s portfolio, making the stock its 18th largest holding. Bastion Asset Management Inc. owned approximately 0.17% of Worthington Enterprises as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quadrant Capital Group LLC increased its position in shares of Worthington Enterprises by 121.0% during the fourth quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company's stock worth $33,000 after acquiring an additional 455 shares in the last quarter. Anchor Investment Management LLC bought a new stake in Worthington Enterprises during the 4th quarter worth approximately $40,000. Itau Unibanco Holding S.A. raised its stake in shares of Worthington Enterprises by 41.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock worth $68,000 after purchasing an additional 501 shares during the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 724 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position 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 buying an additional 585 shares during the last quarter. Institutional investors own 51.59% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WOR. Canaccord Genuity Group upgraded Worthington Enterprises from a "hold" rating to a "buy" rating and raised their price objective for the company from $54.00 to $67.00 in a research note on Monday. The Goldman Sachs Group upped 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, Seaport Res Ptn raised shares of Worthington Enterprises to a "strong-buy" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.33.

Worthington Enterprises Stock Performance

WOR stock traded down $0.18 during mid-day trading on Friday, hitting $58.04. The company had a trading volume of 97,265 shares, compared to its average volume of 307,162. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. The firm has a market cap of $2.90 billion, a PE ratio of 69.93 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 stock's fifty day moving average price is $46.71 and its two-hundred day moving average price is $42.97.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.18. The company 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%. Worthington Enterprises's revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. 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.