Worthington Enterprises, Inc. (NYSE:WOR) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC raised its position in Worthington Enterprises, Inc. (NYSE:WOR) by 24.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,827 shares of the industrial products company’s stock after purchasing an additional 1,538 shares during the period. MML Investors Services LLC’s holdings in Worthington Enterprises were worth $324,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC boosted its position in shares of Worthington Enterprises by 24.8% in the 3rd quarter. Fisher Asset Management LLC now owns 70,265 shares of the industrial products company’s stock worth $2,912,000 after buying an additional 13,974 shares in the last quarter. Verition Fund Management LLC acquired a new position in Worthington Enterprises during the third quarter worth about $1,014,000. American Century Companies Inc. lifted its holdings in shares of Worthington Enterprises by 43.7% in the second quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock valued at $26,916,000 after purchasing an additional 172,850 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Worthington Enterprises by 111.5% in the third quarter. Sequoia Financial Advisors LLC now owns 9,307 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 4,907 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Worthington Enterprises during the 3rd quarter worth approximately $633,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Insider Activity at Worthington Enterprises

In related news, CFO Joseph B. Hayek purchased 2,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were bought at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the acquisition, the chief financial officer now directly owns 168,875 shares in the company, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 37.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Canaccord Genuity Group lowered their target price on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group boosted their target price on shares of Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday, December 19th.

Worthington Enterprises Trading Up 0.2 %

Shares of WOR opened at $41.11 on Wednesday. Worthington Enterprises, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $69.96. The company has a market capitalization of $2.07 billion, a PE ratio of 54.09 and a beta of 1.26. The stock has a fifty day moving average of $40.40 and a two-hundred day moving average of $44.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The firm had revenue of $274.05 million for the quarter, compared to the consensus estimate of $273.77 million. During the same period in the prior year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year.

Worthington Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.65%. Worthington Enterprises’s dividend payout ratio is presently 81.93%.

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.