Vanguard Group Inc. Trims Stock Position in Worthington Enterprises, Inc. $WOR

Key Points

• Vanguard Group reduced its Worthington Enterprises stake by 1.5% in the fourth quarter, selling 56,733 shares and ending with 3,696,701 shares valued at about $190.6 million.
• Worthington Enterprises recently posted better-than-expected quarterly results, with EPS of $0.98 versus $0.95 expected and revenue of $378.68 million, up 24.4% year over year.
• The company also declared a quarterly dividend of $0.19 per share, and analysts currently have a consensus Hold rating with a $61.00 target price.

Vanguard Group Inc. cut its position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,696,701 shares of the industrial products company's stock after selling 56,733 shares during the period. Vanguard Group Inc. owned approximately 7.46% of Worthington Enterprises worth $190,639,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WOR. Royal Bank of Canada raised its stake in Worthington Enterprises by 4.5% during the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company's stock worth $650,000 after purchasing an additional 554 shares during the period. AQR Capital Management LLC purchased a new position in Worthington Enterprises during the first quarter worth about $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Worthington Enterprises by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company's stock worth $937,000 after purchasing an additional 793 shares during the period. Millennium Management LLC raised its stake in Worthington Enterprises by 54.9% during the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock worth $17,656,000 after purchasing an additional 124,867 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Worthington Enterprises by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company's stock worth $11,143,000 after purchasing an additional 7,575 shares during the period. 51.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WOR has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Worthington Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Enterprises in a research note on Monday, April 20th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $69.00 price target on shares of Worthington Enterprises in a research note on Thursday, March 26th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $61.00.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $54.43 on Monday. The company's 50 day simple moving average is $52.70 and its 200-day simple moving average is $54.22. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 24.19 and a beta of 1.28. Worthington Enterprises, Inc. has a 1 year low of $45.01 and a 1 year high of $70.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.03. The business had revenue of $378.68 million for 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%. The business's revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. As a group, equities research analysts expect that Worthington Enterprises, Inc. will post 3.41 earnings per share for the current year.

Worthington Enterprises Announces Dividend

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

Worthington Enterprises Company 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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