Virtu Financial LLC Purchases Shares of 22,673 Worthington Enterprises, Inc. (NYSE:WOR)

Key Points

• Virtu Financial LLC has acquired a new stake in Worthington Enterprises, purchasing 22,673 shares valued at approximately $1.14 million.
• Analysts have updated price targets for Worthington Enterprises, with Canaccord Genuity increasing its target from $69.00 to $81.00 and Goldman Sachs raising theirs from $44.00 to $50.00.
• Worthington Enterprises has declared a quarterly dividend of $0.19, a slight increase from the previous $0.17, marking an annual yield of 1.2%.

Virtu Financial LLC bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 22,673 shares of the industrial products company's stock, valued at approximately $1,136,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WOR. Entropy Technologies LP bought a new position in Worthington Enterprises during the 1st quarter worth approximately $332,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Worthington Enterprises by 61.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,725 shares of the industrial products company's stock worth $6,348,000 after acquiring an additional 48,045 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Worthington Enterprises during the 1st quarter worth $226,000. Deutsche Bank AG increased its stake in shares of Worthington Enterprises by 30.1% in the first quarter. Deutsche Bank AG now owns 108,238 shares of the industrial products company's stock worth $5,422,000 after purchasing an additional 25,069 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Worthington Enterprises by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company's stock valued at $27,051,000 after acquiring an additional 6,764 shares during the period. Institutional investors own 51.59% of the company's stock.

Worthington Enterprises Stock Performance

Shares of NYSE:WOR traded down $2.09 during trading on Thursday, hitting $64.90. The stock had a trading volume of 177,378 shares, compared to its average volume of 326,824. 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 stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 33.98 and a beta of 1.21. The stock has a 50-day simple moving average of $62.37 and a two-hundred day simple moving average of $53.10.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data 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 for 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%. Worthington Enterprises's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. On average, equities research analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.19 dividend. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.2%. Worthington Enterprises's dividend payout ratio is currently 39.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WOR. The Goldman Sachs Group upped their price objective on Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, June 26th. Canaccord Genuity Group boosted their price target on Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $59.00.

Worthington Enterprises 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.