Jacobs Levy Equity Management Inc. Grows 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. raised its position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 739.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,141 shares of the industrial products company's stock after purchasing an additional 107,590 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.24% of Worthington Enterprises worth $6,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Worthington Enterprises by 1.3% during the 1st quarter. Victory Capital Management Inc. now owns 30,188 shares of the industrial products company's stock valued at $1,512,000 after purchasing an additional 374 shares in the last quarter. Royal Bank of Canada increased its stake in Worthington Enterprises by 4.5% during the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company's stock valued at $650,000 after purchasing an additional 554 shares in the last quarter. Graham Capital Management L.P. increased its stake in Worthington Enterprises by 9.9% during the 4th quarter. Graham Capital Management L.P. now owns 6,847 shares of the industrial products company's stock valued at $275,000 after purchasing an additional 614 shares in the last quarter. VELA Investment Management LLC increased its stake in Worthington Enterprises by 2.1% during the 1st quarter. VELA Investment Management LLC now owns 31,150 shares of the industrial products company's stock valued at $1,560,000 after purchasing an additional 638 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Worthington Enterprises by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,911 shares of the industrial products company's stock valued at $718,000 after purchasing an additional 639 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Performance

Shares of WOR traded down $1.63 on Friday, reaching $63.86. The company's stock had a trading volume of 201,766 shares, compared to its average volume of 178,309. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62. The stock has a market capitalization of $3.18 billion, a P/E ratio of 33.44 and a beta of 1.20. The stock's 50 day simple moving average is $64.01 and its two-hundred day simple moving average is $56.49. 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 posted its quarterly earnings data 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. The company had revenue of $317.88 million for the quarter, compared to the consensus estimate of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The firm's revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. Research analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.19 per share. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, September 15th. Worthington Enterprises's payout ratio is presently 35.60%.

Wall Street Analysts Forecast Growth

WOR has been the subject of a number of research analyst reports. 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. 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. 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 assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Worthington Enterprises presently has a consensus rating of "Hold" and an average price target of $59.00.

Worthington Enterprises 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.