GAMMA Investing LLC Lowers Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

GAMMA Investing LLC reduced its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 928 shares of the industrial products company’s stock after selling 369 shares during the period. GAMMA Investing LLC’s holdings in Worthington Enterprises were worth $37,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Permanent School Fund Corp increased its position in Worthington Enterprises by 4.7% in the second quarter. Texas Permanent School Fund Corp now owns 27,935 shares of the industrial products company’s stock worth $1,322,000 after buying an additional 1,245 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Worthington Enterprises by 43.7% during 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 buying an additional 172,850 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Worthington Enterprises by 19.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 155,291 shares of the industrial products company’s stock worth $7,350,000 after buying an additional 24,885 shares during the period. Renaissance Technologies LLC bought a new stake in Worthington Enterprises during the 2nd quarter valued at $804,000. Finally, Edgestream Partners L.P. purchased a new position in Worthington Enterprises in the second quarter worth $3,060,000. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $41.43 on Wednesday. Worthington Enterprises, Inc. has a 52 week low of $37.88 and a 52 week high of $69.96. The firm has a market capitalization of $2.08 billion, a PE ratio of 54.51 and a beta of 1.25. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $40.57 and its 200 day simple moving average is $42.80.

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

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.64%. Worthington Enterprises’s dividend payout ratio is currently 81.93%.

Wall Street Analyst Weigh In

WOR has been the topic of a number of recent analyst reports. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Canaccord Genuity Group cut their price target on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group increased their price objective on Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th.

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.