Vanguard Group Inc. Has $184.39 Million Stake in Worthington Enterprises, Inc. $WOR

Key Points

• Vanguard Group Inc. has reduced its stake in Worthington Enterprises by 1.6%, owning approximately 7.37% which is valued at $184.39 million.
• Worthington Enterprises recently increased its quarterly dividend from $0.17 to $0.19, resulting in a >1.2% yield for shareholders.
• Following the company's earnings report, analysts have adjusted price targets with Goldman Sachs lowering it to $50.00 while Canaccord Genuity raised it to $81.00, reflecting mixed sentiments about the stock's performance.

Vanguard Group Inc. decreased its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,681,254 shares of the industrial products company's stock after selling 61,603 shares during the period. Vanguard Group Inc. owned about 7.37% of Worthington Enterprises worth $184,394,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings in shares of Worthington Enterprises by 1.3% in the 1st quarter. Victory Capital Management Inc. now owns 30,188 shares of the industrial products company's stock valued at $1,512,000 after purchasing an additional 374 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Worthington Enterprises by 41.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 501 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Worthington Enterprises by 23.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company's stock valued at $124,000 after purchasing an additional 585 shares during the period. Graham Capital Management L.P. grew its stake in shares of Worthington Enterprises by 9.9% in the 4th quarter. Graham Capital Management L.P. now owns 6,847 shares of the industrial products company's stock valued at $275,000 after buying an additional 614 shares in the last quarter. Finally, LPL Financial LLC grew its stake in shares of Worthington Enterprises by 9.2% in the 4th quarter. LPL Financial LLC now owns 7,396 shares of the industrial products company's stock valued at $297,000 after buying an additional 624 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Trading Up 0.6%

Shares of WOR stock opened at $65.5240 on Wednesday. Worthington Enterprises, Inc. has a 12 month low of $37.88 and a 12 month high of $70.91. The company has a quick ratio of 2.62, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.26 billion, a PE ratio of 34.31 and a beta of 1.21. The business's 50 day moving average is $62.64 and its two-hundred day moving average is $53.65.

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, beating 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 company had revenue of $317.88 million during the quarter, compared to analysts' expectations of $300.96 million. During the same period in the prior year, the business earned $0.74 earnings per share. Worthington Enterprises's revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts predict that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's dividend payout ratio is currently 35.60%.

Analysts Set New Price Targets

WOR has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, June 26th. Wall Street Zen cut Worthington Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Canaccord Genuity Group boosted their price target on Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.

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