Wellington Management Group LLP Grows Stock Holdings in Worthington Enterprises, Inc. $WOR

Key Points

• Wellington Management Group LLP increased its stake in Worthington Enterprises by 6.2%, owning 73,980 shares worth approximately $3.7 million as of the latest SEC filing.
• The company announced a quarterly dividend increase from $0.17 to $0.19, with a payout ratio of 35.60% and a dividend yield of 1.2%.
• Worthington Enterprises' EPS for the last quarter was $1.06, surpassing analyst expectations, with revenue reported at $317.88 million.

Wellington Management Group LLP increased its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 6.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,980 shares of the industrial products company's stock after acquiring an additional 4,300 shares during the period. Wellington Management Group LLP owned approximately 0.15% of Worthington Enterprises worth $3,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WOR. Versor Investments LP acquired a new stake in Worthington Enterprises during the first quarter worth about $1,583,000. Summit Securities Group LLC purchased a new stake in shares of Worthington Enterprises during the first quarter worth about $75,000. American Century Companies Inc. increased its stake in Worthington Enterprises by 24.1% during the 1st quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company's stock worth $41,171,000 after buying an additional 159,798 shares in the last quarter. Ethic Inc. raised its stake in Worthington Enterprises by 50.6% in the 1st quarter. Ethic Inc. now owns 10,668 shares of the industrial products company's stock valued at $537,000 after purchasing an additional 3,582 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Worthington Enterprises by 23.5% in the first quarter. Russell Investments Group Ltd. now owns 35,720 shares of the industrial products company's stock valued at $1,789,000 after buying an additional 6,790 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company's stock.

Worthington Enterprises Trading Down 0.4%

WOR stock traded down $0.26 during mid-day trading on Wednesday, hitting $64.20. 66,974 shares of the company were exchanged, compared to its average volume of 314,040. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $70.91. The firm has a market capitalization of $3.20 billion, a P/E ratio of 33.57 and a beta of 1.20. The business has a fifty day simple moving average of $63.93 and a 200-day simple moving average of $55.29. The company has a quick ratio of 2.62, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

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 for the quarter, beating analysts' consensus estimates of $0.84 by $0.22. The business had revenue of $317.88 million during the quarter, compared to analysts' expectations of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%.The company's revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, 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 company also recently announced 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. The ex-dividend date is Monday, September 15th. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.2%. Worthington Enterprises's payout ratio is presently 35.60%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WOR. Canaccord Genuity Group lifted their price target on Worthington Enterprises from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. The Goldman Sachs Group lifted their target price on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, June 26th. Zacks Research cut shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Wall Street Zen upgraded shares of Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 24th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, Worthington Enterprises has a consensus 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.