Tudor Investment Corp ET AL Decreases Stake in Worthington Enterprises, Inc. $WOR

Key Points

• Tudor Investment Corp cut its stake in Worthington Enterprises by 61.8%, selling 27,651 shares and leaving it with 17,077 shares valued at about $948,000 after the 3rd quarter 13F filing.
• Worthington beat quarterly estimates (EPS $0.98 vs. $0.95; revenue $378.7M, up 24.4% year-over-year) but analysts hold a consensus rating of "Hold" with a $61 target price.
• The company declared a quarterly dividend of $0.19 (annualized $0.76, yield 1.4%), and institutional ownership stands at about 51.6%, including a sizable new ~ $16.3M position by Windsor Advisory Group.

Tudor Investment Corp ET AL decreased its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 61.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,077 shares of the industrial products company's stock after selling 27,651 shares during the period. Tudor Investment Corp ET AL's holdings in Worthington Enterprises were worth $948,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Coldstream Capital Management Inc. bought a new position in shares of Worthington Enterprises during the 3rd quarter valued at approximately $256,000. OmniStar Financial Group Inc. bought a new position in shares of Worthington Enterprises during the 3rd quarter valued at approximately $253,000. Jacobs Levy Equity Management Inc. grew its position in shares of Worthington Enterprises by 11.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 97,360 shares of the industrial products company's stock valued at $5,403,000 after acquiring an additional 9,672 shares during the period. SHUTTLEWORTH & Co bought a new position in shares of Worthington Enterprises during the 3rd quarter valued at approximately $226,000. Finally, Windsor Advisory Group LLC bought a new position in shares of Worthington Enterprises during the 3rd quarter valued at approximately $16,319,000. 51.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WOR shares. Wall Street Zen downgraded shares of Worthington Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday. Canaccord Genuity Group reissued a "buy" rating and set a $69.00 target price on shares of Worthington Enterprises in a research report on Thursday, March 26th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Enterprises in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $61.00.

Worthington Enterprises Stock Down 0.1%

WOR opened at $55.42 on Wednesday. The company has a 50 day moving average of $53.60 and a 200 day moving average of $54.34. The company has a market cap of $2.73 billion, a PE ratio of 24.63 and a beta of 1.32. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $70.91. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.31.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. The company had revenue of $378.68 million during the quarter, compared to the consensus estimate of $349.41 million. Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. Worthington Enterprises's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. On average, sell-side analysts expect that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 1.4%. Worthington Enterprises's dividend payout ratio (DPR) is 33.78%.

Worthington Enterprises Profile

Worthington Enterprises NYSE: WOR is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company's portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.

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