Worthington Enterprises, Inc. (NYSE:WOR) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc lifted its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 136.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,800 shares of the industrial products company’s stock after buying an additional 4,500 shares during the quarter. TD Asset Management Inc’s holdings in Worthington Enterprises were worth $369,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new position in shares of Worthington Enterprises during the 1st quarter worth $38,000. Neo Ivy Capital Management purchased a new stake in Worthington Enterprises during the 4th quarter worth about $81,000. TFO Wealth Partners LLC increased its position in Worthington Enterprises by 60,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,824 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,821 shares in the last quarter. EntryPoint Capital LLC increased its position in Worthington Enterprises by 255.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,238 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Worthington Enterprises by 19.7% during the 1st quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 391 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Stock Up 2.3 %

WOR opened at $45.24 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.86. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 20.47 and a beta of 1.25. The business has a 50-day moving average of $45.90 and a two-hundred day moving average of $53.33. Worthington Enterprises, Inc. has a 12 month low of $36.29 and a 12 month high of $69.96.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.14). The business had revenue of $318.80 million during the quarter, compared to analysts’ expectations of $352.82 million. Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.74 EPS.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s payout ratio is presently 30.77%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Canaccord Genuity Group dropped their price objective on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, June 27th. The Goldman Sachs Group dropped their price objective on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a research report on Tuesday, July 2nd. Finally, StockNews.com cut Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.33.

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.