Hotchkis & Wiley Capital Management LLC Takes $11.77 Million Position in Worthington Enterprises, Inc. $WOR

Key Points

• Hotchkis & Wiley Capital Management LLC has acquired a new stake in Worthington Enterprises, purchasing 234,960 shares valued at approximately $11.77 million, representing about 0.47% ownership of the company.
• Worthington Enterprises recently announced a dividend increase to $0.19 per share, a bump from the previous $0.17, with a current dividend yield of 1.1% and a payout ratio of 39.79%.
• The company reported earnings of $1.06 per share for the latest quarter, exceeding estimates, with a revenue of $317.88 million, though revenue saw a slight decline of 0.3% year-over-year.

Hotchkis & Wiley Capital Management LLC bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 234,960 shares of the industrial products company's stock, valued at approximately $11,769,000. Hotchkis & Wiley Capital Management LLC owned about 0.47% of Worthington Enterprises as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. LPL Financial LLC lifted its position in shares of Worthington Enterprises by 9.2% in the fourth quarter. LPL Financial LLC now owns 7,396 shares of the industrial products company's stock valued at $297,000 after buying an additional 624 shares during the last quarter. Wells Fargo & Company MN raised its stake in Worthington Enterprises by 19.2% in the 4th quarter. Wells Fargo & Company MN now owns 27,762 shares of the industrial products company's stock valued at $1,114,000 after acquiring an additional 4,474 shares during the period. Raymond James Financial Inc. acquired a new stake in Worthington Enterprises during the 4th quarter valued at $394,000. MetLife Investment Management LLC lifted its holdings in Worthington Enterprises by 7.2% during the 4th quarter. MetLife Investment Management LLC now owns 19,281 shares of the industrial products company's stock valued at $773,000 after purchasing an additional 1,296 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Worthington Enterprises by 23.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company's stock worth $124,000 after purchasing an additional 585 shares during the period. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Stock Up 4.5%

WOR opened at $67.0370 on Friday. The stock has a fifty day moving average of $62.94 and a 200-day moving average of $54.14. The company has a market capitalization of $3.34 billion, a P/E ratio of 35.10 and a beta of 1.21. Worthington Enterprises, Inc. has a fifty-two week low of $37.88 and a fifty-two 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.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, beating 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 business had revenue of $317.88 million for the quarter, compared to the consensus estimate of $300.96 million. During the same period in the prior year, the company posted $0.74 earnings per share. Worthington Enterprises's revenue was down .3% compared to the same quarter last year. On average, equities analysts expect that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.19 per share. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.1%. Worthington Enterprises's dividend payout ratio (DPR) is currently 39.79%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of 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 lifted their target price on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, June 26th. Finally, Wall Street Zen raised shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.00.

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.

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