Edgestream Partners L.P. Invests $4.10 Million in Worthington Enterprises, Inc. (NYSE:WOR)

Edgestream Partners L.P. acquired a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 81,904 shares of the industrial products company's stock, valued at approximately $4,103,000. Edgestream Partners L.P. owned approximately 0.16% of Worthington Enterprises at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mutual of America Capital Management LLC purchased a new position in Worthington Enterprises in the 1st quarter worth approximately $226,000. VELA Investment Management LLC lifted its position in shares of Worthington Enterprises by 2.1% during the first quarter. VELA Investment Management LLC now owns 31,150 shares of the industrial products company's stock worth $1,560,000 after purchasing an additional 638 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Worthington Enterprises by 1.9% in the first quarter. Principal Financial Group Inc. now owns 154,928 shares of the industrial products company's stock valued at $7,760,000 after purchasing an additional 2,930 shares during the period. Teacher Retirement System of Texas acquired a new stake in Worthington Enterprises during the 1st quarter valued at $238,000. Finally, Vontobel Holding Ltd. increased its stake in Worthington Enterprises by 10.1% during the 1st quarter. Vontobel Holding Ltd. now owns 118,497 shares of the industrial products company's stock worth $5,936,000 after buying an additional 10,854 shares during the period. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Stock Performance

Shares of WOR traded up $0.40 during mid-day trading on Thursday, hitting $62.73. The stock had a trading volume of 105,466 shares, compared to its average volume of 300,211. The company has a quick ratio of 2.62, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. Worthington Enterprises, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $70.91. The company's fifty day simple moving average is $60.83 and its two-hundred day simple moving average is $49.91. The company has a market cap of $3.13 billion, a PE ratio of 32.85 and a beta of 1.19.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings data 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. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The business had revenue of $317.88 million during the quarter, compared to the consensus estimate of $300.96 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The company's revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.19 dividend. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Worthington Enterprises's dividend payout ratio (DPR) is 39.79%.

Analysts Set New Price Targets

A number of research analysts recently commented on WOR shares. Canaccord Genuity Group increased their price target on Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, June 26th. The Goldman Sachs Group increased their price objective 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Worthington Enterprises presently has an average rating of "Hold" and an average price target of $59.00.

Worthington Enterprises 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.