Raymond James & Associates Acquires 357 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Raymond James & Associates lifted its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,304 shares of the industrial products company’s stock after purchasing an additional 357 shares during the quarter. Raymond James & Associates’ holdings in Worthington Enterprises were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of Worthington Enterprises during the third quarter valued at $31,000. FSC Wealth Advisors LLC bought a new stake in Worthington Enterprises during the 3rd quarter valued at about $35,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Worthington Enterprises in the third quarter worth about $97,000. CI Investments Inc. bought a new position in shares of Worthington Enterprises in the third quarter worth approximately $134,000. Finally, Versor Investments LP purchased a new stake in shares of Worthington Enterprises during the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

WOR opened at $58.26 on Tuesday. The company’s 50 day moving average is $61.20 and its 200 day moving average is $59.79. The company has a current ratio of 3.42, a quick ratio of 2.47 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 10.65 and a beta of 1.39. Worthington Enterprises, Inc. has a 12-month low of $33.96 and a 12-month high of $69.96.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Wednesday, March 20th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.44). The business had revenue of $316.76 million for the quarter, compared to the consensus estimate of $326.70 million. Worthington Enterprises had a net margin of 7.12% and a return on equity of 19.40%. The company’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 EPS.

Insider Transactions at Worthington Enterprises

In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $61.34, for a total value of $61,340.00. Following the completion of the sale, the director now directly owns 40,688 shares of the company’s stock, valued at approximately $2,495,801.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Worthington Enterprises news, Director Michael J. Endres sold 66,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $64.26, for a total value of $4,241,160.00. Following the completion of the sale, the director now owns 76,689 shares of the company’s stock, valued at $4,928,035.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ozey K. Horton, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $61.34, for a total value of $61,340.00. Following the transaction, the director now directly owns 40,688 shares in the company, valued at approximately $2,495,801.92. The disclosure for this sale can be found here. Insiders have sold a total of 68,000 shares of company stock worth $4,364,750 in the last three months. Insiders own 38.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. StockNews.com downgraded Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Canaccord Genuity Group initiated coverage on Worthington Enterprises in a research report on Tuesday, January 30th. They issued a “hold” rating and a $56.00 target price for the company. Canaccord Genuity Group raised their price target on shares of Worthington Enterprises from $56.00 to $64.00 and gave the company a “hold” rating in a report on Monday, March 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Worthington Enterprises from $50.00 to $56.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.00.

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.