Worthington Enterprises, Inc. (NYSE:WOR) Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association reduced its stake in Worthington Enterprises, Inc. by 29.4%, holding 19,651 shares valued at $984,000 after selling 8,194 shares in Q1.
• Worthington Enterprises recently increased its quarterly dividend from $0.17 to $0.19 per share, marking a 1.2% dividend yield with an anticipated annual payout of $0.76.
• Despite a 0.3% decline in year-over-year revenue, Worthington reported a $1.06 EPS for the last quarter, exceeding expectations and indicating strong operational performance.

TIAA Trust National Association lowered its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 29.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,651 shares of the industrial products company's stock after selling 8,194 shares during the period. TIAA Trust National Association's holdings in Worthington Enterprises were worth $984,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Jefferies Financial Group Inc. acquired a new stake in Worthington Enterprises during the 1st quarter valued at $259,000. US Bancorp DE grew its holdings 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 valued at $111,000 after buying an additional 2,000 shares during the last quarter. XTX Topco Ltd grew its holdings in Worthington Enterprises by 55.3% during the 1st quarter. XTX Topco Ltd now owns 16,876 shares of the industrial products company's stock valued at $845,000 after buying an additional 6,010 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Worthington Enterprises during the 1st quarter valued at $571,000. Finally, Picton Mahoney Asset Management grew its holdings in Worthington Enterprises by 40,728.0% during the 1st quarter. Picton Mahoney Asset Management now owns 10,207 shares of the industrial products company's stock valued at $511,000 after buying an additional 10,182 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Trading Up 0.4%

Shares of WOR traded up $0.25 during trading hours on Friday, hitting $63.58. The stock had a trading volume of 43,961 shares, compared to its average volume of 328,335. 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 firm has a market cap of $3.17 billion, a P/E ratio of 33.26 and a beta of 1.21. The company's fifty day simple moving average is $61.85 and its 200 day simple moving average is $52.32. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its earnings results 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 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 period last year, the company posted $0.74 EPS. The business's quarterly revenue was down .3% on a year-over-year basis. Equities research 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. Shareholders of record on Monday, September 15th will be given a $0.19 dividend. This is a positive change from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.2%. Worthington Enterprises's dividend payout ratio (DPR) is 39.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WOR shares. The Goldman Sachs Group raised 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. Canaccord Genuity Group raised 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. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Worthington Enterprises has a consensus rating of "Hold" and a consensus price target 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.