Nuveen LLC Acquires New Shares in Worthington Enterprises, Inc. $WOR

Key Points

• Nuveen LLC acquired a stake in Worthington Enterprises by purchasing 81,491 shares valued at approximately $4,082,000, representing about 0.16% ownership at the end of the quarter.
• Worthington Enterprises declared an increased quarterly dividend to $0.19 per share, up from $0.17, with a current annualized dividend yield of 1.1%.
• The company's latest earnings report showed an EPS of $1.06, exceeding analyst expectations and indicating a slight year-over-year revenue decline of 0.3%.

Nuveen LLC acquired a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 81,491 shares of the industrial products company's stock, valued at approximately $4,082,000. Nuveen LLC owned 0.16% of Worthington Enterprises at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State of Wyoming acquired a new position in shares of Worthington Enterprises during the fourth quarter valued at approximately $51,000. Itau Unibanco Holding S.A. grew its position in Worthington Enterprises by 41.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock worth $68,000 after buying an additional 501 shares during the last quarter. GAMMA Investing LLC grew its position in Worthington Enterprises by 77.2% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after buying an additional 716 shares during the last quarter. US Bancorp DE grew its position in Worthington Enterprises by 966.2% in the first quarter. US Bancorp DE now owns 2,207 shares of the industrial products company's stock worth $111,000 after buying an additional 2,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Worthington Enterprises by 23.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company's stock worth $124,000 after buying an additional 585 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on WOR. Zacks Research lowered shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. 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 report on Thursday, June 26th. 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 report 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 report on Sunday, August 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Worthington Enterprises has an average rating of "Hold" and an average target price of $59.00.

Worthington Enterprises Trading Down 1.1%

Worthington Enterprises stock traded down $0.75 during midday trading on Monday, reaching $65.81. The stock had a trading volume of 143,548 shares, compared to its average volume of 190,290. The firm's fifty day simple moving average is $63.71 and its two-hundred day simple moving average is $55.07. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $70.91. 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 firm has a market cap of $3.28 billion, a price-to-earnings ratio of 34.45 and a beta of 1.20.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.22. The firm 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 company's revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. Equities analysts anticipate that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

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

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.