MQS Management LLC Buys Shares of 4,387 Worthington Enterprises, Inc. (NYSE:WOR)

MQS Management LLC purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,387 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Worthington Enterprises by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock worth $224,548,000 after buying an additional 242,833 shares during the last quarter. Gerber LLC acquired a new stake in shares of Worthington Enterprises in the 4th quarter valued at approximately $1,856,000. Denali Advisors LLC boosted its stake in shares of Worthington Enterprises by 35.4% in the first quarter. Denali Advisors LLC now owns 81,021 shares of the industrial products company’s stock valued at $5,042,000 after buying an additional 21,164 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Worthington Enterprises by 58.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 58,184 shares of the industrial products company’s stock worth $3,621,000 after acquiring an additional 21,543 shares during the period. Finally, Capital International Investors purchased a new position in Worthington Enterprises in the fourth quarter worth $26,329,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WOR shares. The Goldman Sachs Group lowered their price target on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com downgraded Worthington Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, June 26th. Finally, Canaccord Genuity Group decreased their target price on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, June 27th. 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.33.

Worthington Enterprises Stock Down 1.4 %

WOR stock opened at $45.88 on Friday. 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 company’s 50 day simple moving average is $45.97 and its 200-day simple moving average is $52.81. Worthington Enterprises, Inc. has a 12 month low of $36.29 and a 12 month high of $69.96. The firm has a market capitalization of $2.30 billion, a PE ratio of 20.76 and a beta of 1.25.

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

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.48%. This is a positive change from Worthington Enterprises’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 13th. Worthington Enterprises’s dividend payout ratio is 30.77%.

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.