Lord Abbett & CO. LLC Buys 116,964 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Lord Abbett & CO. LLC lifted its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 132.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 205,330 shares of the industrial products company's stock after purchasing an additional 116,964 shares during the period. Lord Abbett & CO. LLC owned approximately 0.41% of Worthington Enterprises worth $8,236,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Voya Investment Management LLC boosted its position in Worthington Enterprises by 50.1% in the 4th quarter. Voya Investment Management LLC now owns 15,652 shares of the industrial products company's stock valued at $628,000 after buying an additional 5,222 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Worthington Enterprises by 6.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,257 shares of the industrial products company's stock worth $933,000 after purchasing an additional 1,324 shares during the period. Hsbc Holdings PLC bought a new stake in Worthington Enterprises during the 4th quarter worth about $207,000. Tower Research Capital LLC TRC lifted its position in Worthington Enterprises by 23.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company's stock valued at $124,000 after purchasing an additional 585 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Worthington Enterprises by 7.2% in the 4th quarter. MetLife Investment Management LLC now owns 19,281 shares of the industrial products company's stock valued at $773,000 after purchasing an additional 1,296 shares during the last quarter. 51.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Worthington Enterprises Trading Up 1.9 %

WOR stock traded up $0.95 during midday trading on Friday, hitting $52.10. 232,323 shares of the company's stock were exchanged, compared to its average volume of 306,070. Worthington Enterprises, Inc. has a one year low of $37.88 and a one year high of $60.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. The company has a market cap of $2.60 billion, a PE ratio of 62.77 and a beta of 1.06. The stock's fifty day moving average price is $45.52 and its 200-day moving average price is $42.57.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.70% and a net margin of 3.66%. The business had revenue of $304.52 million for the quarter, compared to analysts' expectations of $289.09 million. During the same quarter in the previous year, the business posted $0.80 EPS. Worthington Enterprises's revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. Worthington Enterprises's payout ratio is presently 57.63%.

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.