ProShare Advisors LLC Acquires 178,824 Shares of Worthington Enterprises, Inc. $WOR

Key Points

• ProShare Advisors increased its Worthington Enterprises stake by 4,005.9% in the third quarter, adding 178,824 shares to hold 183,288 shares worth about $10.9 million. Institutional investors and hedge funds collectively own 51.59% of the company.
• Worthington reported quarterly EPS of $0.82, beating the $0.75 consensus, while revenue of $343.89 million exceeded estimates and rose 13.2% year over year.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 and a 1.3% yield. Canaccord Genuity raised its price target to $75 and maintained a Buy rating; the stock’s consensus rating is “Moderate Buy.”

ProShare Advisors LLC grew its stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 4,005.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,288 shares of the industrial products company's stock after purchasing an additional 178,824 shares during the quarter. ProShare Advisors LLC owned approximately 0.37% of Worthington Enterprises worth $10,913,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Worthington Enterprises during the 2nd quarter worth $283,372,000. Fort Washington Investment Advisors Inc. OH raised its stake in Worthington Enterprises by 1.6% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 537,773 shares of the industrial products company's stock worth $32,019,000 after purchasing an additional 8,560 shares during the period. Windsor Advisory Group LLC increased its holdings in shares of Worthington Enterprises by 23.5% during the 1st quarter. Windsor Advisory Group LLC now owns 459,633 shares of the industrial products company's stock worth $23,965,000 after buying an additional 87,351 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Worthington Enterprises during the second quarter worth $18,376,000. Finally, VELA Investment Management LLC increased its stake in Worthington Enterprises by 5.4% during the second quarter. VELA Investment Management LLC now owns 228,927 shares of the industrial products company's stock worth $12,307,000 after acquiring an additional 11,818 shares during the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $63.72 on Wednesday. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year high of $67.54. The company has a market cap of $3.14 billion, a PE ratio of 18.99 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.53 and a current ratio of 2.67. The business has a 50-day simple moving average of $60.85 and a 200-day simple moving average of $56.56.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.07. The firm had revenue of $343.89 million for the quarter, compared to analyst estimates of $331.26 million. Worthington Enterprises had a net margin of 11.50% and a return on equity of 16.71%. The business's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts forecast that Worthington Enterprises, Inc. will post 3.80 EPS for the current fiscal year.

Worthington Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. Worthington Enterprises's payout ratio is 24.17%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WOR. Weiss Ratings upgraded shares of Worthington Enterprises from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Canaccord Genuity Group increased their price target on shares of Worthington Enterprises from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Activity at Worthington Enterprises

In other Worthington Enterprises news, major shareholder John McConnell sold 42,491 shares of Worthington Enterprises stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $60.43, for a total transaction of $2,567,731.13. Following the transaction, the insider owned 1,335,648 shares of the company's stock, valued at $80,713,208.64. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.50% of the company's stock.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc NYSE: WOR is a diversified company focused on consumer and building products. Its portfolio includes products for outdoor living, water storage and treatment, and related household and lifestyle applications, serving residential, commercial and industrial customers.

The company also has interests in building-products businesses that provide solutions used in construction, including systems and components for commercial and residential structures. Its products are marketed through a range of brands and distribution channels in the United States and other markets.

Worthington Enterprises was created in 2023 through the separation of Worthington Industries' consumer-products and related businesses from its steel-processing operations.

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