Universal Beteiligungs und Servicegesellschaft mbH Buys New Position in Worthington Enterprises, Inc. (NYSE:WOR)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Worthington Enterprises by purchasing 27,778 shares for approximately $1.39 million, representing about 0.06% of the company.
• Several institutional investors, including Balyasny Asset Management and Northern Trust Corp, have recently increased their holdings in Worthington Enterprises significantly during Q4.
• The company announced a quarterly dividend increase to $0.19 per share, reflecting a commitment to returning value to shareholders amidst fluctuating earnings.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,778 shares of the industrial products company's stock, valued at approximately $1,391,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.06% of Worthington Enterprises as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Worthington Enterprises by 7.4% during the fourth quarter. Northern Trust Corp now owns 380,851 shares of the industrial products company's stock worth $15,276,000 after buying an additional 26,178 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Worthington Enterprises by 236.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company's stock worth $8,916,000 after acquiring an additional 156,173 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Worthington Enterprises by 132.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company's stock worth $8,236,000 after acquiring an additional 116,964 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Worthington Enterprises by 44.0% during the fourth quarter. JPMorgan Chase & Co. now owns 198,848 shares of the industrial products company's stock worth $7,976,000 after purchasing an additional 60,733 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Worthington Enterprises by 151.9% during the fourth quarter. Marshall Wace LLP now owns 181,650 shares of the industrial products company's stock worth $7,286,000 after purchasing an additional 109,525 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Canaccord Genuity Group increased their price target on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group lifted their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $59.00.

Worthington Enterprises Price Performance

WOR stock traded up $0.57 during mid-day trading on Tuesday, hitting $63.25. The stock had a trading volume of 70,578 shares, compared to its average volume of 331,031. The firm has a market capitalization of $3.15 billion, a P/E ratio of 33.13 and a beta of 1.21. 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 firm has a fifty day simple moving average of $61.51 and a 200 day simple moving average of $51.87. Worthington Enterprises, Inc. has a 52 week low of $37.88 and a 52 week high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted 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 net margin of 8.33% and a return on equity of 16.66%. The firm had revenue of $317.88 million for the quarter, compared to analyst estimates of $300.96 million. During the same period in the previous year, the firm posted $0.74 EPS. The company's revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders 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 annualized dividend and a dividend yield of 1.2%. Worthington Enterprises's dividend payout ratio is presently 39.79%.

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.