Lord Abbett & CO. LLC Grows Stake in Worthington Enterprises, Inc. (NYSE:WOR)

Lord Abbett & CO. LLC raised its stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 132.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 205,330 shares of the industrial products company's stock after purchasing an additional 116,964 shares during the quarter. Lord Abbett & CO. LLC owned 0.41% of Worthington Enterprises worth $8,236,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WOR. Quadrant Capital Group LLC raised its position in Worthington Enterprises by 121.0% during the 4th quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 455 shares during the last quarter. Anchor Investment Management LLC bought a new position in shares of Worthington Enterprises during the fourth quarter valued at approximately $40,000. KBC Group NV lifted its stake in Worthington Enterprises by 63.7% in the fourth quarter. KBC Group NV now owns 1,860 shares of the industrial products company's stock worth $75,000 after acquiring an additional 724 shares during the period. Tower Research Capital LLC TRC boosted its holdings 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 valued at $124,000 after acquiring an additional 585 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Worthington Enterprises during the 4th quarter valued at $205,000. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Stock Up 1.9 %

WOR stock traded up $0.95 during trading on Friday, hitting $52.10. 232,164 shares of the stock traded hands, compared to its average volume of 305,127. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 62.77 and a beta of 1.06. Worthington Enterprises, Inc. has a 1 year low of $37.88 and a 1 year high of $60.71. The firm's 50 day moving average is $45.33 and its two-hundred day moving average is $42.47.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.18. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The company had revenue of $304.52 million during the quarter, compared to the consensus estimate of $289.09 million. During the same quarter last year, the firm earned $0.80 earnings per share. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.31%. Worthington Enterprises's dividend payout ratio (DPR) is presently 57.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Worthington Enterprises from $49.00 to $54.00 and gave the company a "hold" rating in a research report on Thursday, March 27th. Seaport Res Ptn raised shares of Worthington Enterprises to a "strong-buy" rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Worthington Enterprises from $39.00 to $44.00 and gave the company a "sell" rating in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $48.00.

Worthington Enterprises 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.