Dimensional Fund Advisors LP Decreases Stake in Worthington Enterprises, Inc. $WOR

Key Points

• Dimensional Fund Advisors reduced its Worthington Enterprises stake by 2%, selling 32,977 shares and retaining 1.59 million shares valued at approximately $82.7 million. Institutional investors collectively own 51.59% of the company.
• Worthington Enterprises reported quarterly EPS of $0.97, below the $1.04 consensus estimate, while revenue of $371.46 million also missed expectations despite rising 16.9% year over year.
• The company raised its quarterly dividend to $0.20 per share from $0.19, implying an annualized dividend of $0.80 and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $65.50.

Dimensional Fund Advisors LP reduced its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,585,876 shares of the industrial products company's stock after selling 32,977 shares during the period. Dimensional Fund Advisors LP owned 3.22% of Worthington Enterprises worth $82,684,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP increased its stake in shares of Worthington Enterprises by 872.0% in the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company's stock worth $25,000 after purchasing an additional 436 shares in the last quarter. McMillan Office Inc. purchased a new stake in shares of Worthington Enterprises during the 4th quarter valued at approximately $31,000. Farther Finance Advisors LLC lifted its stake in shares of Worthington Enterprises by 81.3% during the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company's stock valued at $35,000 after buying an additional 304 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Worthington Enterprises by 57.3% in the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company's stock worth $38,000 after buying an additional 263 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in Worthington Enterprises by 823.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 757 shares of the industrial products company's stock worth $39,000 after buying an additional 675 shares during the period. 51.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Worthington Enterprises news, major shareholder John P/Oh Mcconnell sold 41,704 shares of the business's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $55.85, for a total value of $2,329,168.40. Following the completion of the transaction, the insider owned 1,335,648 shares of the company's stock, valued at $74,595,940.80. The trade was a 3.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $55.84 on Friday. The business's 50-day moving average price is $56.45 and its two-hundred day moving average price is $54.83. Worthington Enterprises, Inc. has a twelve month low of $45.01 and a twelve month high of $67.80. The stock has a market cap of $2.75 billion, a P/E ratio of 17.78 and a beta of 1.29. The company has a quick ratio of 1.43, a current ratio of 2.37 and a debt-to-equity ratio of 0.30.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). The business had revenue of $371.46 million for the quarter, compared to analysts' expectations of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The firm's revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. As a group, equities analysts predict that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 15th. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.4%. Worthington Enterprises's dividend payout ratio (DPR) is presently 24.20%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WOR shares. Canaccord Genuity Group reduced their price objective on shares of Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating for the company in a research note on Thursday, June 25th. Weiss Ratings restated a "hold (c)" rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Finally, Wall Street Zen lowered Worthington Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $65.50.

Worthington Enterprises Profile

Worthington Enterprises NYSE: WOR is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company's portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.

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