Worthington Enterprises, Inc. $WOR Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp cut its stake in Worthington Enterprises by 61.8% in Q3, selling 27,651 shares and leaving it with 17,077 shares (worth ~$948k); overall institutional ownership is ~51.6% while other large holders (Vanguard, Arrowstreet, Millennium, Fisher) generally increased positions.
• Worthington beat expectations for the most recent quarter with $0.98 EPS vs. $0.95 expected and revenue of $378.7M (vs. $349.4M), a 24.4% year-over-year revenue increase, with ROE of 17.74% and a net margin of 8.42%.
• The company declared a quarterly dividend of $0.19 (annualized $0.76, yield 1.5%, DPR 33.8%); the stock has a market cap of $2.53B, a PE of 22.73, a one-year range of $43.35–$70.91, and a consensus analyst target of $61 (average rating: Hold).

Tudor Investment Corp ET AL lessened its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 61.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,077 shares of the industrial products company's stock after selling 27,651 shares during the period. Tudor Investment Corp ET AL's holdings in Worthington Enterprises were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Worthington Enterprises by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,753,434 shares of the industrial products company's stock valued at $208,278,000 after acquiring an additional 15,894 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Worthington Enterprises by 67.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company's stock worth $26,721,000 after acquiring an additional 193,319 shares during the period. Millennium Management LLC grew its stake in shares of Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock worth $17,656,000 after purchasing an additional 124,867 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Worthington Enterprises by 19.4% during the third quarter. Fisher Asset Management LLC now owns 343,591 shares of the industrial products company's stock valued at $19,066,000 after purchasing an additional 55,917 shares during the period. Finally, Windsor Advisory Group LLC acquired a new position in shares of Worthington Enterprises during the third quarter valued at $16,319,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Worthington Enterprises Stock Up 0.9%

WOR opened at $51.15 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 2.36. The company has a market capitalization of $2.53 billion, a PE ratio of 22.73 and a beta of 1.32. The stock's fifty day moving average is $53.75 and its 200-day moving average is $54.80. Worthington Enterprises, Inc. has a one year low of $43.35 and a one year high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.03. The business had revenue of $378.68 million during the quarter, compared to analysts' expectations of $349.41 million. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.The company's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. On average, equities analysts predict that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, June 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.5%. Worthington Enterprises's dividend payout ratio (DPR) is 33.78%.

Analysts Set New Price Targets

WOR has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $69.00 target price on shares of Worthington Enterprises in a research report on Thursday, March 26th. Wall Street Zen raised shares of Worthington Enterprises from a "hold" rating to a "buy" rating in a research note on Saturday, January 10th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Worthington Enterprises has an average rating of "Hold" and a consensus target price of $61.00.

Worthington Enterprises Company Profile

Worthington Enterprises NYSE: WOR is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company's portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.

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