Hotchkis & Wiley Capital Management LLC Acquires New 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 acquired a new position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 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 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of Worthington Enterprises by 1.3% during the first quarter. Victory Capital Management Inc. now owns 30,188 shares of the industrial products company's stock worth $1,512,000 after purchasing an additional 374 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Worthington Enterprises by 41.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock worth $68,000 after purchasing an additional 501 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 in the last quarter. Graham Capital Management L.P. boosted its position in shares of Worthington Enterprises by 9.9% during the fourth quarter. Graham Capital Management L.P. now owns 6,847 shares of the industrial products company's stock worth $275,000 after purchasing an additional 614 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Worthington Enterprises by 9.2% during the fourth quarter. LPL Financial LLC now owns 7,396 shares of the industrial products company's stock worth $297,000 after purchasing an additional 624 shares in the last quarter. Institutional investors own 51.59% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on WOR shares. Canaccord Genuity Group lifted their price target on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Wall Street Zen raised shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. Zacks Research cut shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, The Goldman Sachs Group raised their price target on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Worthington Enterprises currently has an average rating of "Hold" and a consensus price target of $59.00.

Worthington Enterprises Stock Performance

Shares of NYSE WOR traded down $0.39 during midday trading on Friday, hitting $66.16. 29,623 shares of the company's stock were exchanged, compared to its average volume of 315,663. 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 12 month low of $37.88 and a 12 month high of $70.91. The company's 50 day moving average price is $63.56 and its 200 day moving average price is $54.75. The firm has a market capitalization of $3.29 billion, a PE ratio of 34.66 and a beta of 1.21.

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 for the quarter, topping analysts' consensus estimates of $0.84 by $0.22. The company had revenue of $317.88 million for the quarter, compared to analyst estimates of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%.The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. The ex-dividend date is Monday, September 15th. Worthington Enterprises's dividend payout ratio is 35.60%.

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.