Royce & Associates LP Grows Stock Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Royce & Associates LP grew its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 31.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,503 shares of the industrial products company’s stock after purchasing an additional 16,328 shares during the quarter. Royce & Associates LP’s holdings in Worthington Enterprises were worth $2,839,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. increased its stake in 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 during the last quarter. Private Wealth Strategies L.L.C. purchased a new position in shares of Worthington Enterprises during the 2nd quarter worth about $3,913,000. Edgestream Partners L.P. acquired a new stake in shares of Worthington Enterprises in the second quarter worth approximately $3,060,000. Panagora Asset Management Inc. purchased a new stake in Worthington Enterprises in the second quarter valued at approximately $2,044,000. Finally, Denali Advisors LLC increased its position in Worthington Enterprises by 38.0% during the second quarter. Denali Advisors LLC now owns 111,800 shares of the industrial products company’s stock worth $5,291,000 after purchasing an additional 30,779 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WOR. Canaccord Genuity Group reiterated a “hold” rating and issued a $46.00 price target on shares of Worthington Enterprises in a report on Friday, October 4th. StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group dropped their price target on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.00.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $39.63 on Tuesday. The firm’s fifty day simple moving average is $41.60 and its 200 day simple moving average is $47.15. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. Worthington Enterprises, Inc. has a twelve month low of $38.27 and a twelve month high of $69.96. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 52.72 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The company had revenue of $257.31 million for the quarter, compared to analyst estimates of $296.05 million. During the same quarter in the prior year, the firm earned $2.06 EPS. The company’s revenue for the quarter was down 17.5% compared to the same quarter last year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.72%. Worthington Enterprises’s dividend payout ratio is currently 89.47%.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek purchased 2,500 shares of Worthington Enterprises stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of $40.21 per share, with a total value of $100,525.00. Following the completion of the acquisition, the chief financial officer now owns 168,875 shares of the company’s stock, valued at approximately $6,790,463.75. This trade represents a 1.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 37.50% of the company’s stock.

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.