Strs Ohio Acquires Shares of 9,900 Worthington Enterprises, Inc. $WOR

Key Points

• Strs Ohio acquired a stake in Worthington Enterprises, purchasing 9,900 shares valued at approximately $496,000 in the first quarter, according to SEC filings.
• Worthington's stock has recently been rated by analysts, with one raising its rating to "strong-buy" and others adjusting their price targets, such as Goldman Sachs increasing theirs from $44.00 to $50.00.
• The company announced an increase in its quarterly dividend to $0.19, reflecting a positive change from the previous $0.17, and marking a dividend yield of 1.2%.

Strs Ohio acquired a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,900 shares of the industrial products company's stock, valued at approximately $496,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Worthington Enterprises in the 1st quarter worth approximately $11,769,000. American Century Companies Inc. raised its position in shares of Worthington Enterprises by 24.1% in the 1st quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company's stock worth $41,171,000 after buying an additional 159,798 shares during the period. Millennium Management LLC raised its position in shares of Worthington Enterprises by 54.9% in the 1st quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock worth $17,656,000 after buying an additional 124,867 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Worthington Enterprises by 739.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 122,141 shares of the industrial products company's stock worth $6,118,000 after buying an additional 107,590 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Worthington Enterprises in the first quarter valued at about $4,103,000. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Price Performance

NYSE:WOR traded up $0.06 during mid-day trading on Monday, hitting $61.12. The company's stock had a trading volume of 209,516 shares, compared to its average volume of 214,100. Worthington Enterprises, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $70.91. The company has a current ratio of 3.48, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 32.00 and a beta of 1.20. The stock has a fifty day moving average of $63.76 and a 200-day moving average of $57.48.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $300.96 million. During the same quarter last year, the business posted $0.74 earnings per share. The company's revenue was down .3% on a year-over-year basis. As a group, equities analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 annualized dividend and a yield of 1.2%. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's payout ratio is presently 39.79%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. Zacks Research downgraded Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Canaccord Genuity Group increased their price objective on Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, The Goldman Sachs Group increased their price objective on Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, June 26th. 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'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 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.