Jacobs Levy Equity Management Inc. Raises Position in Worthington Enterprises, Inc. $WOR

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its position in Worthington Enterprises by 739.4% in Q1, now owning 122,141 shares worth approximately $6.12 million.
• Worthington Enterprises recently reported earnings per share of $1.06, exceeding analyst expectations, and had a quarterly revenue of $317.88 million.
• The company announced a dividend increase to $0.19 per share, reflecting an annualized yield of 1.2%, up from the previous $0.17 per share.

Jacobs Levy Equity Management Inc. grew its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 739.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 122,141 shares of the industrial products company's stock after buying an additional 107,590 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.24% of Worthington Enterprises worth $6,118,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Worthington Enterprises by 1.3% in the first quarter. Victory Capital Management Inc. now owns 30,188 shares of the industrial products company's stock worth $1,512,000 after buying an additional 374 shares during the last quarter. Royal Bank of Canada raised its holdings in Worthington Enterprises by 4.5% in the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company's stock worth $650,000 after buying an additional 554 shares during the last quarter. Graham Capital Management L.P. raised its holdings in Worthington Enterprises by 9.9% in the fourth quarter. Graham Capital Management L.P. now owns 6,847 shares of the industrial products company's stock worth $275,000 after buying an additional 614 shares during the last quarter. VELA Investment Management LLC raised its holdings in Worthington Enterprises by 2.1% in the first quarter. VELA Investment Management LLC now owns 31,150 shares of the industrial products company's stock worth $1,560,000 after buying an additional 638 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Worthington Enterprises by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,911 shares of the industrial products company's stock worth $718,000 after acquiring an additional 639 shares during the period. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Performance

Shares of NYSE WOR opened at $64.80 on Tuesday. The firm has a 50 day moving average of $64.09 and a 200 day moving average of $55.98. 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 capitalization of $3.23 billion, a price-to-earnings ratio of 33.93 and a beta of 1.20. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $70.91.

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, beating the consensus estimate of $0.84 by $0.22. The company had revenue of $317.88 million during the quarter, compared to analyst estimates of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. On average, research analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on WOR shares. The Goldman Sachs Group lifted 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. Canaccord Genuity Group lifted their price target on shares of Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Zacks Research lowered shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Wall Street Zen upgraded shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $59.00.

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.

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