Ethic Inc. Acquires Shares of 7,086 Worthington Enterprises, Inc. (NYSE:WOR)

Ethic Inc. purchased a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,086 shares of the industrial products company's stock, valued at approximately $284,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Worthington Enterprises by 24.8% in the third quarter. Barclays PLC now owns 128,158 shares of the industrial products company's stock worth $5,312,000 after buying an additional 25,453 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Worthington Enterprises by 7.5% in the 3rd quarter. Franklin Resources Inc. now owns 18,604 shares of the industrial products company's stock valued at $751,000 after acquiring an additional 1,293 shares in the last quarter. KBC Group NV lifted its holdings in Worthington Enterprises by 63.7% in the 4th quarter. KBC Group NV now owns 1,860 shares of the industrial products company's stock worth $75,000 after purchasing an additional 724 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Worthington Enterprises by 9.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company's stock valued at $71,032,000 after purchasing an additional 156,762 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Worthington Enterprises by 9.7% during the fourth quarter. Rhumbline Advisers now owns 107,490 shares of the industrial products company's stock valued at $4,311,000 after purchasing an additional 9,539 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Stock Performance

Shares of WOR traded down $1.33 during trading hours on Wednesday, reaching $58.69. 167,068 shares of the company traded hands, compared to its average volume of 310,680. Worthington Enterprises, Inc. has a 1-year low of $37.88 and a 1-year high of $61.71. The stock has a market cap of $2.93 billion, a P/E ratio of 70.71 and a beta of 1.18. The stock's fifty day moving average is $49.37 and its 200 day moving average is $44.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its earnings results on Tuesday, March 25th. The industrial products company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.18. The business had revenue of $304.52 million during the quarter, compared to analyst estimates of $289.09 million. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. Worthington Enterprises's revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. Equities research analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. Worthington Enterprises's dividend payout ratio is 57.63%.

Analysts Set New Price Targets

Several analysts recently issued reports on WOR shares. The Goldman Sachs Group upped their price objective on shares of Worthington Enterprises from $39.00 to $44.00 and gave the stock a "sell" rating in a report on Thursday, April 3rd. Seaport Res Ptn upgraded Worthington Enterprises to a "strong-buy" rating in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group raised Worthington Enterprises from a "hold" rating to a "buy" rating and increased their price objective for the company from $54.00 to $67.00 in a research report on Monday, May 5th. One research 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $52.33.

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.