Belpointe Asset Management LLC Purchases Shares of 4,208 Worthington Enterprises, Inc. $WOR

Key Points

• Belpointe Asset Management LLC acquired 4,208 shares of Worthington Enterprises, Inc. for approximately $211,000 in the first quarter, highlighting increasing institutional interest in the company.
• Worthington Enterprises recently declared a quarterly dividend of $0.19 per share, representing an annualized dividend yield of 1.2%, up from the previous dividend of $0.17.
• The company reported earnings of $1.06 per share for the last quarter, surpassing estimates and demonstrating a net margin of 8.33% despite a slight year-over-year revenue decline.

Belpointe Asset Management LLC bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,208 shares of the industrial products company's stock, valued at approximately $211,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in shares of Worthington Enterprises by 131.5% during the 4th quarter. Deutsche Bank AG now owns 83,169 shares of the industrial products company's stock valued at $3,336,000 after buying an additional 47,245 shares during the last quarter. Lazard Asset Management LLC boosted its position in Worthington Enterprises by 1,178.9% in the 4th quarter. Lazard Asset Management LLC now owns 15,782 shares of the industrial products company's stock worth $633,000 after purchasing an additional 14,548 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Worthington Enterprises by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,911 shares of the industrial products company's stock worth $718,000 after purchasing an additional 639 shares during the period. State of Wyoming purchased a new position in shares of Worthington Enterprises during the 4th quarter valued at approximately $51,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Worthington Enterprises in the 4th quarter valued at $421,000. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Stock Performance

Shares of NYSE WOR opened at $63.77 on Tuesday. Worthington Enterprises, Inc. has a 52-week low of $37.88 and a 52-week high of $70.91. The company has a quick ratio of 2.62, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average price is $64.01 and its two-hundred day moving average price is $56.75. The stock has a market capitalization of $3.18 billion, a P/E ratio of 33.39 and a beta of 1.20.

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 for the quarter, topping the consensus estimate of $0.84 by $0.22. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The business had revenue of $317.88 million during the quarter, compared to the consensus estimate of $300.96 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company's quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen raised Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 24th. Zacks Research cut shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Canaccord Genuity Group boosted their price objective on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, The Goldman Sachs Group upped their price target on Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" 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.

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