Versor Investments LP Purchases Shares of 31,599 Worthington Enterprises, Inc. $WOR

Key Points

• Versor Investments LP has acquired 31,599 shares of Worthington Enterprises, Inc., valued at approximately $1,583,000, increasing its stake to 0.06% of the company as per its recent SEC filing.
• Worthington Enterprises reported earnings of $1.06 per share, surpassing analysts' expectations of $0.84, and total revenue of $317.88 million for the quarter.
• The company has declared a quarterly dividend of $0.19 per share, an increase from the previous $0.17, with a dividend yield of 1.2%.

Versor Investments LP acquired a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 31,599 shares of the industrial products company's stock, valued at approximately $1,583,000. Versor Investments LP owned about 0.06% of Worthington Enterprises at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WOR. American Century Companies Inc. boosted its holdings in Worthington Enterprises by 24.1% in the first quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company's stock valued at $41,171,000 after purchasing an additional 159,798 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Worthington Enterprises by 236.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company's stock valued at $8,916,000 after purchasing an additional 156,173 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Worthington Enterprises by 132.4% in the fourth quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company's stock worth $8,236,000 after buying an additional 116,964 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Worthington Enterprises by 151.9% in the fourth quarter. Marshall Wace LLP now owns 181,650 shares of the industrial products company's stock worth $7,286,000 after buying an additional 109,525 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new stake in Worthington Enterprises in the fourth quarter valued at $3,455,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, June 26th. Wall Street Zen downgraded Worthington Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Canaccord Genuity Group boosted their price objective on Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a report 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 issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $59.00.

Worthington Enterprises Stock Performance

NYSE WOR traded down $0.9950 during trading hours on Wednesday, reaching $64.5450. The company's stock had a trading volume of 160,349 shares, compared to its average volume of 322,705. 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 business has a 50-day simple moving average of $62.64 and a 200 day simple moving average of $53.65. Worthington Enterprises, Inc. has a 52 week low of $37.88 and a 52 week high of $70.91. The stock has a market cap of $3.21 billion, a PE ratio of 33.79 and a beta of 1.21.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.84 by $0.22. The company had revenue of $317.88 million during the quarter, compared to analyst estimates of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%.The business's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. Equities research analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's dividend payout ratio (DPR) is presently 39.79%.

About Worthington Enterprises

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.