Dimensional Fund Advisors LP Lowers Stock Holdings in Worthington Enterprises, Inc. $WOR

Dimensional Fund Advisors LP cut its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,585,876 shares of the industrial products company’s stock after selling 32,977 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Worthington Enterprises were worth $82,684,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WOR. Royal Bank of Canada boosted its stake in Worthington Enterprises by 4.5% in the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after buying an additional 554 shares in the last quarter. AQR Capital Management LLC bought a new position in Worthington Enterprises during the first quarter valued at approximately $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Worthington Enterprises by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 793 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Worthington Enterprises by 54.9% in the 1st quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after acquiring an additional 124,867 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Worthington Enterprises by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after acquiring an additional 7,575 shares during the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Performance

Shares of NYSE:WOR opened at $55.84 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 17.78 and a beta of 1.29. The company has a 50-day moving average price of $56.45 and a 200-day moving average price of $54.83. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $67.80.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The firm had revenue of $371.46 million for the quarter, compared to analysts’ expectations of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 earnings per share. As a group, equities analysts anticipate that Worthington Enterprises, Inc. will post 3.85 EPS for the current year.

Worthington Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.20 dividend. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is 24.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Canaccord Genuity Group decreased their target price on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Wall Street Zen downgraded shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.50.

Insiders Place Their Bets

In other news, major shareholder John P/Oh Mcconnell sold 17,625 shares of Worthington Enterprises stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total value of $934,830.00. Following the sale, the insider directly owned 1,335,648 shares in the company, valued at approximately $70,842,769.92. This trade represents a 1.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.40% of the company’s stock.

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.