Royce & Associates LP Has $1.20 Million Position in Worthington Enterprises, Inc. $WOR

Royce & Associates LP cut its position in Worthington Enterprises, Inc. (NYSE:WOR) by 40.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,697 shares of the industrial products company’s stock after selling 15,046 shares during the quarter. Royce & Associates LP’s holdings in Worthington Enterprises were worth $1,204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WOR. Essex Investment Management Co. LLC acquired a new stake in shares of Worthington Enterprises in the third quarter valued at approximately $3,059,000. Dynamic Technology Lab Private Ltd acquired a new stake in Worthington Enterprises during the second quarter worth approximately $1,826,000. Arrowstreet Capital Limited Partnership increased its stake in Worthington Enterprises by 377.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 288,222 shares of the industrial products company’s stock worth $18,342,000 after acquiring an additional 227,792 shares during the period. Prudential Financial Inc. increased its stake in Worthington Enterprises by 97.7% during the 2nd quarter. Prudential Financial Inc. now owns 103,150 shares of the industrial products company’s stock worth $6,564,000 after acquiring an additional 50,967 shares during the period. Finally, Quantedge Capital Pte Ltd acquired a new position in Worthington Enterprises in the 2nd quarter valued at $1,546,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Stock Performance

Worthington Enterprises stock opened at $51.06 on Friday. The company has a quick ratio of 2.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.53 billion, a PE ratio of 24.08 and a beta of 1.32. Worthington Enterprises, Inc. has a 12-month low of $39.05 and a 12-month high of $70.91. The business’s 50-day moving average price is $54.89 and its two-hundred day moving average price is $56.76.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, December 16th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $327.45 million for the quarter, compared to analyst estimates of $310.60 million. Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.5%. Worthington Enterprises’s payout ratio is currently 35.85%.

Wall Street Analysts Forecast Growth

WOR has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, January 21st. Wall Street Zen upgraded Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Canaccord Genuity Group dropped their price target on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.00.

About Worthington Enterprises

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.