American Century Companies Inc. Acquires 159,798 Shares of Worthington Enterprises, Inc. $WOR

Key Points

• American Century Companies Inc. increased its stake in Worthington Enterprises by 24.1% during Q1, owning approximately 1.65% of the company, valued at $41.17 million.
• Worthington Enterprises announced a quarterly dividend of $0.19 per share, up from the previous $0.17, representing a yield of 1.2%.
• The company reported $1.06 EPS, exceeding estimates, while revenue of $317.88 million beat expectations, despite a 0.3% year-over-year decline.

American Century Companies Inc. increased its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 24.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 821,947 shares of the industrial products company's stock after purchasing an additional 159,798 shares during the quarter. American Century Companies Inc. owned approximately 1.65% of Worthington Enterprises worth $41,171,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Worthington Enterprises during the fourth quarter worth about $51,000. Itau Unibanco Holding S.A. grew its position in shares of Worthington Enterprises by 41.9% during 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 in the last quarter. GAMMA Investing LLC grew its position in shares of Worthington Enterprises by 77.2% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after purchasing an additional 716 shares in the last quarter. US Bancorp DE grew its position in shares of Worthington Enterprises by 966.2% during the first quarter. US Bancorp DE now owns 2,207 shares of the industrial products company's stock worth $111,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew 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 worth $124,000 after purchasing an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Trading Up 0.4%

Shares of NYSE:WOR traded up $0.28 during trading on Tuesday, hitting $67.02. The company had a trading volume of 247,977 shares, compared to its average volume of 195,634. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 35.09 and a beta of 1.21. Worthington Enterprises, Inc. has a one year low of $37.88 and a one year high of $70.91. The company has a fifty day simple moving average of $63.24 and a two-hundred day simple moving average of $54.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.22. The business had revenue of $317.88 million during the quarter, compared to analyst estimates of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%.The company's revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. As a group, equities analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.19 per share. 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 dividend yield of 1.1%. Worthington Enterprises's dividend payout ratio (DPR) is currently 39.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WOR. Canaccord Genuity Group increased their price target on Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Wall Street Zen raised Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.