New York State Teachers Retirement System Reduces Stock Position in Worthington Enterprises, Inc. (NYSE:WOR)

New York State Teachers Retirement System lessened its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,591 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Worthington Enterprises worth $2,029,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WOR. KBC Group NV boosted its holdings in shares of Worthington Enterprises by 45.1% during the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 353 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Worthington Enterprises in the third quarter worth approximately $85,000. Point72 DIFC Ltd purchased a new position in shares of Worthington Enterprises in the third quarter worth approximately $110,000. Point72 Hong Kong Ltd purchased a new position in shares of Worthington Enterprises in the third quarter worth approximately $124,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Worthington Enterprises in the third quarter worth approximately $199,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Down 2.7 %

Shares of WOR opened at $42.32 on Friday. The firm has a market capitalization of $2.12 billion, a P/E ratio of 50.99 and a beta of 1.24. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $69.96. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $41.43 and a 200-day moving average price of $41.85.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The company had revenue of $274.05 million during the quarter, compared to analyst estimates of $273.77 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities research analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.61%. Worthington Enterprises’s dividend payout ratio is presently 81.93%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Seaport Res Ptn raised shares of Worthington Enterprises to a “strong-buy” rating in a report on Wednesday, January 29th. Canaccord Genuity Group lifted their price target on shares of Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.00.

Worthington Enterprises Company 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.