Connor Clark & Lunn Investment Management Ltd. Has $6.35 Million Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Worthington Enterprises, acquiring an additional 48,045 shares, bringing its total holdings to 126,725 shares worth approximately $6.35 million.
• The company recently announced a quarterly dividend increase, now set at $0.19 per share, with a yield of 1.2%, payable on September 29th.
• Analysts have mixed views on Worthington Enterprises, with one sell rating, two holds, and one buy, leading to a consensus rating of "Hold" and an average price target of $59.00.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 61.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,725 shares of the industrial products company's stock after purchasing an additional 48,045 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.25% of Worthington Enterprises worth $6,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Worthington Enterprises by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company's stock worth $27,051,000 after purchasing an additional 6,764 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Worthington Enterprises by 7.4% in the 4th quarter. Northern Trust Corp now owns 380,851 shares of the industrial products company's stock worth $15,276,000 after purchasing an additional 26,178 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Worthington Enterprises by 236.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company's stock worth $8,916,000 after purchasing an additional 156,173 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Worthington Enterprises by 132.4% in the fourth quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company's stock worth $8,236,000 after acquiring an additional 116,964 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Worthington Enterprises by 44.0% in the fourth quarter. JPMorgan Chase & Co. now owns 198,848 shares of the industrial products company's stock worth $7,976,000 after acquiring an additional 60,733 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Up 0.1%

NYSE WOR traded up $0.08 during trading on Friday, reaching $64.93. The company's stock had a trading volume of 252,786 shares, compared to its average volume of 230,894. The business has a 50-day moving average price of $62.47 and a 200-day moving average price of $53.34. 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, Inc. has a 1-year low of $37.88 and a 1-year high of $70.91. The stock has a market capitalization of $3.23 billion, a PE ratio of 33.99 and a beta of 1.21.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.22. The business had revenue of $317.88 million during 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%. Worthington Enterprises's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. On average, research analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The firm also recently declared 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 represents a $0.76 annualized dividend and a yield of 1.2%. This is a positive change from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's payout ratio is 35.60%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their target price 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 downgraded shares of Worthington Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, The Goldman Sachs Group boosted their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Worthington Enterprises currently has a consensus rating of "Moderate Buy" and an average target price 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.