Rhumbline Advisers Sells 6,865 Shares of Worthington Enterprises, Inc. $WOR

Key Points

• Rhumbline Advisers has reduced its stake in Worthington Enterprises by 6.4%, now holding approximately 100,625 shares valued at about $5,040,000.
• Worthington Enterprises has recently increased its quarterly dividend from $0.17 to $0.19 per share, with a dividend yield of 1.2%.
• The company's latest earnings report showed an EPS of $1.06, exceeding expectations, despite a 0.3% decline in year-over-year revenue.

Rhumbline Advisers reduced its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 6.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 100,625 shares of the industrial products company's stock after selling 6,865 shares during the period. Rhumbline Advisers owned approximately 0.20% of Worthington Enterprises worth $5,040,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in Worthington Enterprises by 24.1% in the first quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company's stock worth $41,171,000 after purchasing an additional 159,798 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Worthington Enterprises by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company's stock worth $27,051,000 after purchasing an additional 6,764 shares during the last quarter. Millennium Management LLC lifted its stake in Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock worth $17,656,000 after purchasing an additional 124,867 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Worthington Enterprises in the first quarter worth $11,769,000. Finally, Goldman Sachs Group Inc. lifted its stake in Worthington Enterprises by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company's stock worth $11,143,000 after purchasing an additional 7,575 shares during the last quarter. 51.59% of the stock is owned by institutional investors.

Worthington Enterprises Trading Up 2.8%

Shares of NYSE WOR traded up $1.72 during midday trading on Thursday, hitting $62.78. 288,130 shares of the company traded hands, compared to its average volume of 187,645. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $70.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 3.48. The stock has a 50-day moving average price of $63.86 and a 200 day moving average price of $56.96. The firm has a market cap of $3.13 billion, a P/E ratio of 32.87 and a beta of 1.20.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly 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. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The company had revenue of $317.88 million for the quarter, compared to analysts' expectations of $300.96 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. Worthington Enterprises's quarterly revenue was down .3% on a year-over-year basis. As a group, analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The business also recently declared 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 is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, September 15th. Worthington Enterprises's dividend payout ratio is presently 39.79%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WOR. The Goldman Sachs Group boosted 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 boosted their price objective on shares of 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 upgraded shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 24th. Finally, Zacks Research cut shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.