Wedge Capital Management L L P NC Reduces Position in Worthington Enterprises, Inc. (NYSE:WOR)

Wedge Capital Management L L P NC lowered its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,801 shares of the industrial products company's stock after selling 8,091 shares during the period. Wedge Capital Management L L P NC owned approximately 0.14% of Worthington Enterprises worth $3,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of WOR. Tower Research Capital LLC TRC lifted its stake in Worthington Enterprises by 23.4% during 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 acquiring an additional 585 shares during the period. Proficio Capital Partners LLC acquired a new position in Worthington Enterprises during the fourth quarter valued at $478,000. Amundi lifted its position in Worthington Enterprises by 170.3% during the fourth quarter. Amundi now owns 15,777 shares of the industrial products company's stock valued at $625,000 after purchasing an additional 9,941 shares during the period. Victory Capital Management Inc. boosted its holdings in Worthington Enterprises by 113.7% in the fourth quarter. Victory Capital Management Inc. now owns 29,814 shares of the industrial products company's stock valued at $1,196,000 after purchasing an additional 15,864 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Worthington Enterprises by 9.7% during the 4th quarter. Rhumbline Advisers now owns 107,490 shares of the industrial products company's stock worth $4,311,000 after purchasing an additional 9,539 shares during the period. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Price Performance

WOR traded up $0.34 during trading on Tuesday, hitting $61.13. The company's stock had a trading volume of 150,473 shares, compared to its average volume of 311,874. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 73.65 and a beta of 1.19. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $61.81. The business's fifty day simple moving average is $53.64 and its 200 day simple moving average is $45.99. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.73 by $0.18. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The company had revenue of $304.52 million during the quarter, compared to analyst estimates of $289.09 million. During the same quarter in the previous year, the firm earned $0.80 EPS. The firm's revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. Worthington Enterprises's payout ratio is currently 57.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WOR shares. Canaccord Genuity Group raised Worthington Enterprises from a "hold" rating to a "buy" rating and boosted their price objective for the company from $54.00 to $67.00 in a report on Monday, May 5th. The Goldman Sachs Group boosted their price target on Worthington Enterprises from $39.00 to $44.00 and gave the company a "sell" rating in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, two have given 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 company currently has an average rating of "Hold" and an average target price of $52.33.

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.