Keeley Teton Advisors LLC Grows Position in Worthington Enterprises, Inc. $WOR

Key Points

• Keeley Teton Advisors LLC increased its stake in Worthington Enterprises, Inc. by 168.1%, now holding 14,948 shares valued at approximately $749,000.
• Worthington Enterprises recently increased its quarterly dividend from $0.17 to $0.19 per share, resulting in an annualized dividend of $0.76 and a yield of 1.1%.
• The company reported earnings of $1.06 per share for the last quarter, surpassing expectations, with revenues totaling $317.88 million, although revenue was down by 0.3% year-over-year.

Keeley Teton Advisors LLC raised its position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 168.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,948 shares of the industrial products company's stock after purchasing an additional 9,372 shares during the period. Keeley Teton Advisors LLC's holdings in Worthington Enterprises were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in WOR. Hotchkis & Wiley Capital Management LLC purchased a new stake in Worthington Enterprises in the first quarter worth about $11,769,000. American Century Companies Inc. increased its position in Worthington Enterprises by 24.1% during the 1st quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company's stock valued at $41,171,000 after purchasing an additional 159,798 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Worthington Enterprises by 236.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company's stock valued at $8,916,000 after purchasing an additional 156,173 shares in the last quarter. Bastion Asset Management Inc. purchased a new stake in shares of Worthington Enterprises in the 4th quarter worth approximately $3,455,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Worthington Enterprises in the 1st quarter worth approximately $4,103,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Worthington Enterprises Stock Down 1.1%

NYSE WOR traded down $0.75 on Friday, hitting $65.81. The stock had a trading volume of 143,548 shares, compared to its average volume of 193,268. The business's fifty day moving average price is $63.71 and its 200 day moving average price is $54.90. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 34.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62. Worthington Enterprises, Inc. has a 52-week low of $37.88 and a 52-week high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.66% and a net margin of 8.33%.The firm had revenue of $317.88 million during the quarter, compared to analyst estimates of $300.96 million. During the same quarter in the prior year, the business posted $0.74 EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. This is a boost 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 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.