Wedge Capital Management L L P NC Has $4.13 Million Stock Holdings in Worthington Enterprises, Inc. $WOR

Key Points

• Wedge Capital Management L L P NC reduced its stake in Worthington Enterprises by 9.7%, holding approximately 64,820 shares valued at $4.13 million at the end of the second quarter.
• Worthington Enterprises recently increased its quarterly dividend from $0.17 to $0.19, representing a 1.2% dividend yield and a payout ratio of 39.79%.
• Analyst ratings for Worthington Enterprises are mixed, with one "Strong Buy," one "Buy," two "Hold," and one "Sell," leading to a consensus rating of "Hold" and an average price target of $59.00.

Wedge Capital Management L L P NC lessened its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 9.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,820 shares of the industrial products company's stock after selling 6,981 shares during the period. Wedge Capital Management L L P NC owned 0.13% of Worthington Enterprises worth $4,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Quarry LP bought a new position in Worthington Enterprises during the first quarter worth $49,000. State of Wyoming purchased a new stake in Worthington Enterprises in the 4th quarter worth approximately $51,000. Summit Securities Group LLC bought a new stake in shares of Worthington Enterprises during the first quarter worth $75,000. GAMMA Investing LLC grew its stake in shares of Worthington Enterprises by 77.2% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after acquiring an additional 716 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Worthington Enterprises by 966.2% during the 1st quarter. US Bancorp DE now owns 2,207 shares of the industrial products company's stock valued at $111,000 after buying an additional 2,000 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Performance

Worthington Enterprises stock traded up $0.06 during midday trading on Monday, reaching $61.12. 209,516 shares of the company traded hands, compared to its average volume of 214,100. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 32.00 and a beta of 1.20. The business has a 50 day moving average of $63.76 and a two-hundred day moving average of $57.48. Worthington Enterprises, Inc. has a 12 month low of $37.88 and a 12 month high of $70.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.22. The firm had revenue of $317.88 million for the quarter, compared to the consensus estimate of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. As a group, research analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.2%. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.17. The ex-dividend date is Monday, September 15th. Worthington Enterprises's dividend payout ratio (DPR) is 39.79%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WOR shares. Zacks Research lowered Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. The Goldman Sachs Group increased 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 lifted 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. Finally, Wall Street Zen upgraded Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.