Dimensional Fund Advisors LP Sells 171,581 Shares of Worthington Enterprises, Inc. $WOR

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 trimmed its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,141,473 shares of the industrial products company's stock after selling 171,581 shares during the period. 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 institutional investors also recently modified their holdings of the company. State of Wyoming purchased a new stake in shares of Worthington Enterprises during the fourth quarter worth about $51,000. Itau Unibanco Holding S.A. lifted its holdings in Worthington Enterprises by 41.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock worth $68,000 after buying an additional 501 shares during the period. GAMMA Investing LLC lifted its holdings in Worthington Enterprises by 77.2% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after buying an additional 716 shares during the period. US Bancorp DE lifted its holdings in Worthington Enterprises by 966.2% in the first quarter. US Bancorp DE now owns 2,207 shares of the industrial products company's stock worth $111,000 after buying an additional 2,000 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in 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 worth $124,000 after buying an additional 585 shares during the period. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Enterprises Price Performance

Worthington Enterprises stock traded down $0.78 during mid-day trading on Thursday, hitting $66.62. The stock had a trading volume of 11,594 shares, compared to its average volume of 316,579. The company has a current ratio of 3.48, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average is $63.40 and its 200 day moving average is $54.58. The firm has a market capitalization of $3.32 billion, a P/E ratio of 34.95 and a beta of 1.21. Worthington Enterprises, Inc. has a one year low of $37.88 and a one year high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The industrial products company reported $1.06 EPS 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 return on equity of 16.66% and a net margin of 8.33%.The business's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. On average, sell-side 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.19 dividend. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. Worthington Enterprises's dividend payout ratio is currently 35.60%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group raised their target price on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, June 26th. Zacks Research downgraded shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, Wall Street Zen raised shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Worthington Enterprises presently has a consensus rating of "Hold" and an average price target 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.