Belpointe Asset Management LLC Makes New $211,000 Investment in 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 position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,208 shares of the industrial products company's stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WOR. Sequoia Financial Advisors LLC bought a new stake in shares of Worthington Enterprises in the 1st quarter worth about $256,000. GAMMA Investing LLC boosted its stake in Worthington Enterprises by 77.2% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 716 shares during the period. Mutual of America Capital Management LLC bought a new stake in shares of Worthington Enterprises during the 1st quarter worth about $226,000. Y Intercept Hong Kong Ltd raised its position in shares of Worthington Enterprises by 44.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 8,794 shares of the industrial products company's stock worth $440,000 after buying an additional 2,704 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Worthington Enterprises in the 1st quarter worth approximately $4,082,000. Hedge funds and other institutional investors own 51.59% of the company's stock.

Wall Street Analyst Weigh In

WOR has been the topic of several research reports. Zacks Research lowered shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Canaccord Genuity Group lifted their price target on shares of Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Wall Street Zen raised shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $59.00.

Worthington Enterprises Price Performance

WOR traded down $1.69 during midday trading on Friday, hitting $61.06. The stock had a trading volume of 582,263 shares, compared to its average volume of 195,154. The company has a market cap of $3.04 billion, a P/E ratio of 31.97 and a beta of 1.20. The business has a fifty day moving average of $63.82 and a 200 day moving average of $57.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 3.48. Worthington Enterprises, Inc. has a 1 year low of $37.88 and a 1 year high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.22. The firm 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 business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. As a group, equities analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.19 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.76 annualized dividend and a yield of 1.2%. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's payout ratio is currently 39.79%.

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.