Sequoia Financial Advisors LLC Makes New Investment in Worthington Enterprises, Inc. (NYSE:WOR)

Sequoia Financial Advisors LLC purchased a new position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,102 shares of the industrial products company's stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WOR. Quadrant Capital Group LLC boosted its position in shares of Worthington Enterprises by 121.0% during the 4th quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 455 shares during the last quarter. Anchor Investment Management LLC bought a new stake in Worthington Enterprises in the fourth quarter worth $40,000. State of Wyoming bought a new stake in Worthington Enterprises in the fourth quarter worth $51,000. GAMMA Investing LLC lifted 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. Finally, Itau Unibanco Holding S.A. lifted 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. 51.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WOR shares. The Goldman Sachs Group raised their price target on Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, June 26th. Canaccord Genuity Group raised their price target on Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $59.00.

Worthington Enterprises Trading Down 1.7%

WOR stock traded down $1.14 during midday trading on Monday, reaching $64.21. The company's stock had a trading volume of 343,343 shares, compared to its average volume of 300,374. 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 fifty day simple moving average of $59.10 and a two-hundred day simple moving average of $48.76. Worthington Enterprises, Inc. has a 1 year low of $37.88 and a 1 year high of $70.91. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 33.62 and a beta of 1.19.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.22. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%. The business had revenue of $317.88 million for the quarter, compared to analyst estimates of $300.96 million. During the same quarter last year, the firm posted $0.74 earnings per share. The business's revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The firm 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 $0.19 dividend. This is a positive change from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. Worthington Enterprises's dividend payout ratio (DPR) is presently 39.79%.

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.