Federated Hermes Inc. Purchases Shares of 11,397 Worthington Enterprises, Inc. (NYSE:WOR)

Key Points

• Federated Hermes Inc. has acquired a new position in Worthington Enterprises, purchasing 11,397 shares valued at approximately $571,000.
• Worthington Enterprises recently increased its quarterly dividend to $0.19 per share, resulting in an annualized yield of 1.2%.
• In its latest earnings report, Worthington Enterprises reported $1.06 EPS, exceeding estimates and showing a net margin of 8.33% despite a slight revenue drop compared to the previous year.

Federated Hermes Inc. purchased 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 Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,397 shares of the industrial products company's stock, valued at approximately $571,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of Worthington Enterprises by 23.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company's stock worth $124,000 after acquiring an additional 585 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Worthington Enterprises during the 1st quarter worth $256,000. GAMMA Investing LLC increased its holdings in shares of Worthington Enterprises by 77.2% during the 1st 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 last quarter. Mutual of America Capital Management LLC acquired a new stake in Worthington Enterprises in the 1st quarter valued at $226,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in Worthington Enterprises by 44.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 8,794 shares of the industrial products company's stock valued at $440,000 after purchasing an additional 2,704 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Analyst Upgrades and Downgrades

WOR has been the subject of a number of research reports. Canaccord Genuity Group lifted 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. The Goldman Sachs Group lifted their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $59.00.

Worthington Enterprises Price Performance

NYSE WOR traded down $0.11 on Friday, reaching $63.22. The company's stock had a trading volume of 194,901 shares, compared to its average volume of 241,857. 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 has a market cap of $3.15 billion, a PE ratio of 33.10 and a beta of 1.21. Worthington Enterprises, Inc. has a 52 week low of $37.88 and a 52 week high of $70.91. The business has a 50-day moving average price of $61.94 and a 200 day moving average price of $52.61.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $317.88 million for the quarter, compared to analyst estimates of $300.96 million. During the same period in the prior year, the business earned $0.74 earnings per share. Worthington Enterprises's quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts expect that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's dividend payout ratio (DPR) is presently 35.60%.

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.