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

Edgestream Partners L.P. purchased a new position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 81,904 shares of the industrial products company's stock, valued at approximately $4,103,000. Edgestream Partners L.P. owned about 0.16% of Worthington Enterprises as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WOR. Balyasny Asset Management L.P. increased its position in shares of Worthington Enterprises by 236.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company's stock valued at $8,916,000 after acquiring an additional 156,173 shares during the period. 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 valued at $8,236,000 after acquiring an additional 116,964 shares during the period. Marshall Wace LLP increased its position in shares of Worthington Enterprises by 151.9% in the fourth quarter. Marshall Wace LLP now owns 181,650 shares of the industrial products company's stock valued at $7,286,000 after acquiring an additional 109,525 shares during the period. Bastion Asset Management Inc. purchased a new position in shares of Worthington Enterprises in the fourth quarter valued at about $3,455,000. Finally, GAMMA Investing LLC increased its position in shares of Worthington Enterprises by 8,773.7% during the first quarter. GAMMA Investing LLC now owns 82,348 shares of the industrial products company's stock valued at $4,125,000 after buying an additional 81,420 shares during the period. Hedge funds and other institutional investors own 51.59% of the company's stock.

Analyst Ratings Changes

WOR has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price target on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. The Goldman Sachs Group boosted their price target 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 analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $59.00.

Worthington Enterprises Stock Down 1.1%

Shares of NYSE:WOR traded down $0.67 during trading on Friday, reaching $62.18. 304,659 shares of the stock traded hands, compared to its average volume of 301,368. The stock has a 50-day moving average of $61.00 and a two-hundred day moving average of $50.22. Worthington Enterprises, Inc. has a 52-week low of $37.88 and a 52-week high of $70.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 3.48. The stock has a market cap of $3.10 billion, a P/E ratio of 32.55 and a beta of 1.19.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its earnings results 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. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The company had revenue of $317.88 million for the quarter, compared to analysts' expectations of $300.96 million. During the same quarter last year, the company posted $0.74 earnings per share. The firm's quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts expect 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. Stockholders of record on Monday, September 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's dividend payout ratio (DPR) is currently 35.60%.

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.