Charles Schwab Investment Management Inc. Acquires 6,764 Shares of Worthington Enterprises, Inc. $WOR

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Worthington Enterprises by 1.3%, now holding about 1.08% of the company worth $27 million.
• A recent earnings report showed Worthington Enterprises beat analysts' estimates with $1.06 EPS and revenue of $317.88 million, although revenue was down 0.3% year-over-year.
• Worthington Enterprises is set to increase its quarterly dividend from $0.17 to $0.19, reflecting positive adjustments in shareholder returns.

Charles Schwab Investment Management Inc. lifted its position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,040 shares of the industrial products company's stock after acquiring an additional 6,764 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.08% of Worthington Enterprises worth $27,051,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. State of Wyoming purchased a new position in shares of Worthington Enterprises during the 4th quarter worth $51,000. Itau Unibanco Holding S.A. boosted its position in Worthington Enterprises by 41.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock valued at $68,000 after buying an additional 501 shares during the last quarter. GAMMA Investing LLC boosted its position in Worthington Enterprises by 77.2% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock valued at $82,000 after buying an additional 716 shares during the last quarter. US Bancorp DE boosted its position in Worthington Enterprises by 966.2% in the 1st quarter. US Bancorp DE now owns 2,207 shares of the industrial products company's stock valued at $111,000 after buying an additional 2,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Worthington Enterprises by 23.4% in the 4th 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. Hedge funds and other institutional investors own 51.59% of the company's stock.

Analysts Set New Price Targets

WOR has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, June 26th. Wall Street Zen upgraded shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, Canaccord Genuity Group boosted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.00.

Worthington Enterprises Price Performance

NYSE WOR traded down $0.1750 on Monday, reaching $66.8750. The company's stock had a trading volume of 53,871 shares, compared to its average volume of 319,124. The firm has a market cap of $3.33 billion, a PE ratio of 35.01 and a beta of 1.21. The business has a 50-day moving average price of $62.94 and a 200 day moving average price of $54.23. Worthington Enterprises, Inc. has a 52 week low of $37.88 and a 52 week high of $70.91. The company has a current ratio of 3.48, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its earnings results 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 business had revenue of $317.88 million for the quarter, compared to analysts' expectations of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The firm's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Sell-side analysts expect that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. This is a positive change from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.1%. Worthington Enterprises's dividend payout ratio (DPR) is currently 35.60%.

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.