Worthington Enterprises, Inc. $WOR Holdings Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 51.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,938 shares of the industrial products company’s stock after selling 41,966 shares during the period. Edgestream Partners L.P.’s holdings in Worthington Enterprises were worth $2,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in WOR. Federated Hermes Inc. acquired a new stake in Worthington Enterprises in the first quarter worth approximately $571,000. US Bancorp DE boosted its stake in Worthington Enterprises by 966.2% during the first quarter. US Bancorp DE now owns 2,207 shares of the industrial products company’s stock valued at $111,000 after buying an additional 2,000 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Worthington Enterprises during the first quarter worth about $259,000. Charles Schwab Investment Management Inc. grew its holdings in Worthington Enterprises by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company’s stock worth $27,051,000 after acquiring an additional 6,764 shares during the period. Finally, Deutsche Bank AG raised its position in Worthington Enterprises by 30.1% in the first quarter. Deutsche Bank AG now owns 108,238 shares of the industrial products company’s stock worth $5,422,000 after acquiring an additional 25,069 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

WOR has been the subject of several research reports. Zacks Research lowered shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Wall Street Zen cut Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, October 8th. CJS Securities upgraded Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a report on Wednesday, September 24th. Finally, Canaccord Genuity Group reduced their target price on Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Worthington Enterprises has a consensus rating of “Moderate Buy” and a consensus target price of $62.33.

Worthington Enterprises Trading Down 0.8%

NYSE WOR opened at $55.09 on Friday. The firm’s 50 day moving average price is $55.43 and its two-hundred day moving average price is $59.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.24 and a current ratio of 3.30. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $70.91. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 25.86 and a beta of 1.33.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Wednesday, December 28th. The industrial products company reported $2.12 EPS for the quarter. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.91%.The business had revenue of $1.23 billion during the quarter. Equities analysts anticipate that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be issued a $0.19 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. Worthington Enterprises’s dividend payout ratio is currently 35.68%.

Insider Activity

In related news, Director Michael J. Endres purchased 10,000 shares of Worthington Enterprises stock in a transaction dated Thursday, September 25th. The stock was acquired at an average cost of $52.95 per share, with a total value of $529,500.00. Following the completion of the transaction, the director directly owned 95,524 shares of the company’s stock, valued at $5,057,995.80. This trade represents a 11.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is owned by company insiders.

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.