Royce & Associates LP Sells 22,580 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Royce & Associates LP lessened its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 32.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,216 shares of the industrial products company's stock after selling 22,580 shares during the quarter. Royce & Associates LP owned approximately 0.09% of Worthington Enterprises worth $2,365,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its holdings in shares of Worthington Enterprises by 121.0% during the fourth quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 455 shares during the period. Anchor Investment Management LLC acquired a new position in shares of Worthington Enterprises during the fourth quarter valued at $40,000. State of Wyoming bought a new stake in shares of Worthington Enterprises during the fourth quarter valued at about $51,000. Itau Unibanco Holding S.A. raised its stake in shares of Worthington Enterprises by 41.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 501 shares in the last quarter. Finally, GAMMA Investing LLC raised 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 valued at $82,000 after purchasing an additional 716 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Trading Down 0.9%

NYSE WOR traded down $0.57 on Friday, hitting $61.41. 52,202 shares of the company were exchanged, compared to its average volume of 332,690. The company's 50 day moving average price is $61.44 and its 200-day moving average price is $51.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62. The firm has a market capitalization of $3.07 billion, a P/E ratio of 32.12 and a beta of 1.19. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 16.66% and a net margin of 8.33%. The business's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. Analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The firm 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 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. Worthington Enterprises's payout ratio is 35.60%.

Wall Street Analyst Weigh In

WOR has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their price objective on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group boosted their price target on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $59.00.

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.