Worthington Enterprises, Inc. $WOR Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 7.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 32,737 shares of the industrial products company’s stock after selling 2,588 shares during the period. Cresset Asset Management LLC’s holdings in Worthington Enterprises were worth $1,640,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in shares of Worthington Enterprises by 24.1% in the 1st quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company’s stock valued at $41,171,000 after purchasing an additional 159,798 shares in the last quarter. Ethic Inc. raised its holdings in shares of Worthington Enterprises by 50.6% in the 1st quarter. Ethic Inc. now owns 10,668 shares of the industrial products company’s stock valued at $537,000 after purchasing an additional 3,582 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Worthington Enterprises by 23.5% in the 1st quarter. Russell Investments Group Ltd. now owns 35,720 shares of the industrial products company’s stock valued at $1,789,000 after purchasing an additional 6,790 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Worthington Enterprises by 26.4% in the 1st quarter. Public Sector Pension Investment Board now owns 98,356 shares of the industrial products company’s stock valued at $4,927,000 after purchasing an additional 20,547 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Worthington Enterprises in the 1st quarter valued at $4,082,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Worthington Enterprises Trading Down 1.5%

NYSE WOR opened at $64.5450 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62. The firm’s fifty day moving average price is $62.71 and its 200 day moving average price is $53.73. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 33.79 and a beta of 1.21. Worthington Enterprises, Inc. has a 12 month low of $37.88 and a 12 month high of $70.91.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.22. The firm had revenue of $317.88 million for the quarter, compared to the consensus estimate of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. On average, sell-side analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.19 per share. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.2%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 35.60%.

Analysts Set New Price Targets

WOR has been the topic of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, June 26th. Wall Street Zen lowered shares of Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 16th. Finally, Canaccord Genuity Group raised their price objective on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Worthington Enterprises currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

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.