Worthington Enterprises, Inc. $WOR Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has increased its holdings in Worthington Enterprises by 23.5%, owning approximately 0.07% of the company at a value of $1,789,000.
• Worthington Enterprises announced a quarterly dividend increase to $0.19 per share, with the annualized dividend now at $0.76 and a dividend yield of 1.1%.
• Analysts have shown mixed opinions on Worthington Enterprises, with one research firm upgrading the stock to a "strong-buy" rating while another set a sell rating, resulting in an average rating of "Moderate Buy".

Russell Investments Group Ltd. grew its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 23.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,720 shares of the industrial products company's stock after acquiring an additional 6,790 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Worthington Enterprises worth $1,789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WOR. State of Wyoming purchased a new stake in shares of Worthington Enterprises in the fourth quarter worth about $51,000. Itau Unibanco Holding S.A. grew 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 buying an additional 501 shares during the last quarter. GAMMA Investing LLC grew its stake in Worthington Enterprises by 77.2% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after purchasing an additional 716 shares in the last quarter. US Bancorp DE grew its stake in Worthington Enterprises by 966.2% in the first quarter. US Bancorp DE now owns 2,207 shares of the industrial products company's stock worth $111,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Worthington Enterprises by 23.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company's stock worth $124,000 after purchasing an additional 585 shares in the last quarter. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WOR has been the topic of several recent research reports. Canaccord Genuity Group increased their target price on Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. The Goldman Sachs Group increased their price target on Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, June 26th. Finally, Zacks Research downgraded Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $59.00.

Worthington Enterprises Price Performance

WOR stock traded down $0.75 during trading on Friday, hitting $65.81. The stock had a trading volume of 143,548 shares, compared to its average volume of 193,268. 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, Inc. has a twelve month low of $37.88 and a twelve month high of $70.91. The stock has a market capitalization of $3.28 billion, a P/E ratio of 34.45 and a beta of 1.21. The company's 50-day moving average price is $63.71 and its two-hundred day moving average price is $54.90.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.22. The business had revenue of $317.88 million for 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 business's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, research analysts predict that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's payout ratio is presently 35.60%.

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.