Handelsbanken Fonder AB Buys New Holdings in Worthington Enterprises, Inc. $WOR

Handelsbanken Fonder AB purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the second quarter, HoldingsChannel reports. The firm purchased 7,300 shares of the industrial products company’s stock, valued at approximately $465,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC increased its holdings in shares of Worthington Enterprises by 61.0% during the second quarter. ORG Partners LLC now owns 660 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 250 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Worthington Enterprises during the 2nd quarter valued at $46,000. Quarry LP acquired a new position in Worthington Enterprises during the first quarter worth $49,000. CWM LLC lifted its stake in shares of Worthington Enterprises by 33.5% in the second quarter. CWM LLC now owns 813 shares of the industrial products company’s stock valued at $52,000 after buying an additional 204 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of Worthington Enterprises during the first quarter valued at about $75,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $54.86 on Friday. The business’s fifty day simple moving average is $55.57 and its 200 day simple moving average is $60.03. The firm has a market capitalization of $2.72 billion, a P/E ratio of 25.76 and a beta of 1.25. Worthington Enterprises, Inc. has a 12 month low of $37.88 and a 12 month high of $70.91. The company has a current ratio of 3.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.32.

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

Worthington Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 annualized dividend and a yield of 1.4%. Worthington Enterprises’s dividend payout ratio is presently 35.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, October 8th. CJS Securities raised Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a report on Wednesday, September 24th. Wall Street Zen lowered Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Zacks Research lowered Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, Canaccord Genuity Group dropped their price objective on Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.33.

Insider Transactions at Worthington Enterprises

In related news, Director Michael J. Endres acquired 10,000 shares of the stock in a transaction on Thursday, September 25th. The shares were acquired at an average price of $52.95 per share, with a total value of $529,500.00. Following the completion of the transaction, the director owned 95,524 shares in the company, valued at approximately $5,057,995.80. The trade was a 11.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.40% 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.