Worthington Enterprises, Inc. $WOR Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Worthington Enterprises by 7.4%, now holding 2,141,473 shares valued at approximately $107.27 million.
• Worthington Enterprises recently reported $1.06 earnings per share, beating estimates and marking a revenue of $317.88 million during the quarter.
• The company declared an increased quarterly dividend of $0.19, up from $0.17, reflecting a 1.1% yield with a dividend payout ratio of 35.60%.

Dimensional Fund Advisors LP reduced its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,141,473 shares of the industrial products company's stock after selling 171,581 shares during the quarter. Dimensional Fund Advisors LP owned about 4.29% of Worthington Enterprises worth $107,266,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Worthington Enterprises by 23.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company's stock valued at $124,000 after acquiring an additional 585 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Worthington Enterprises during the first quarter worth approximately $256,000. GAMMA Investing LLC raised its stake in shares of Worthington Enterprises by 77.2% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after purchasing an additional 716 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Worthington Enterprises during the first quarter worth approximately $226,000. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Worthington Enterprises by 44.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 8,794 shares of the industrial products company's stock worth $440,000 after purchasing an additional 2,704 shares during the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Price Performance

NYSE:WOR traded down $0.68 during trading hours on Thursday, hitting $66.72. The company's stock had a trading volume of 148,304 shares, compared to its average volume of 195,346. The business's 50-day moving average is $63.56 and its two-hundred day moving average is $54.75. The company has a market capitalization of $3.32 billion, a PE ratio of 34.93 and a beta of 1.21. 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 52-week low of $37.88 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.22. The firm had revenue of $317.88 million during the quarter, compared to analysts' expectations of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%.Worthington Enterprises's revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. As a group, research analysts anticipate that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal 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 represents a $0.76 annualized dividend and a yield of 1.1%. This is a positive change 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 is currently 35.60%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday. 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. Canaccord Genuity Group upped their price target on Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Zacks Research cut Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday. One investment 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $59.00.

Worthington Enterprises Company Profile

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.