Rhumbline Advisers Reduces Stock Position in 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 decreased its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,625 shares of the industrial products company's stock after selling 6,865 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of Worthington Enterprises worth $5,040,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Worthington Enterprises in the 1st quarter valued at about $49,000. State of Wyoming acquired a new position in Worthington Enterprises during the 4th quarter worth approximately $51,000. Summit Securities Group LLC acquired a new position in Worthington Enterprises during the 1st quarter worth approximately $75,000. GAMMA Investing LLC lifted its position in Worthington Enterprises by 77.2% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after acquiring an additional 716 shares in the last quarter. Finally, US Bancorp DE lifted its position in Worthington Enterprises by 966.2% during the 1st quarter. US Bancorp DE now owns 2,207 shares of the industrial products company's stock worth $111,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Trading Down 2.5%

NYSE:WOR opened at $63.86 on Friday. The stock has a fifty day simple moving average of $64.01 and a 200 day simple moving average of $56.49. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 33.44 and a beta of 1.20. The company has a quick ratio of 2.62, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. Worthington Enterprises, Inc. has a 1-year low of $37.88 and a 1-year high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.22. The firm had revenue of $317.88 million during the quarter, compared to the consensus estimate of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%.The business's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. Sell-side analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.19 per share. This is a boost 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%.

Analyst Ratings Changes

Several equities analysts have recently commented on WOR shares. Zacks Research cut Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Canaccord Genuity Group upped their price objective on Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group increased their price target on 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 raised Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. One investment 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. Based on data from MarketBeat.com, Worthington Enterprises presently has a consensus rating of "Hold" and an average price target of $59.00.

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.

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