Denali Advisors LLC Acquires 30,779 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Denali Advisors LLC boosted its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 38.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 111,800 shares of the industrial products company’s stock after buying an additional 30,779 shares during the period. Worthington Enterprises makes up approximately 1.4% of Denali Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Denali Advisors LLC’s holdings in Worthington Enterprises were worth $5,291,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WOR. Fidelis Capital Partners LLC bought a new stake in Worthington Enterprises during the first quarter valued at $38,000. Neo Ivy Capital Management purchased a new stake in Worthington Enterprises during the fourth quarter valued at about $81,000. TFO Wealth Partners LLC raised its position in Worthington Enterprises by 60,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,824 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 1,821 shares in the last quarter. EntryPoint Capital LLC raised its position in Worthington Enterprises by 255.3% during the first quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,238 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Worthington Enterprises by 19.7% during the first quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 391 shares in the last quarter. Institutional investors own 51.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WOR. Canaccord Genuity Group lowered their price target on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, June 27th. The Goldman Sachs Group lowered their price target on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a research report on Tuesday, July 2nd. Finally, StockNews.com downgraded Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Worthington Enterprises has an average rating of “Hold” and an average target price of $50.33.

Worthington Enterprises Stock Down 0.2 %

WOR opened at $45.14 on Tuesday. The company has a market cap of $2.26 billion, a P/E ratio of 20.43 and a beta of 1.25. The business’s 50-day moving average price is $45.92 and its 200-day moving average price is $53.21. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33. Worthington Enterprises, Inc. has a 12 month low of $36.29 and a 12 month high of $69.96.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.14). The company had revenue of $318.80 million during the quarter, compared to analysts’ expectations of $352.82 million. Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. The firm’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.74 EPS.

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, September 13th. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s payout ratio is currently 30.77%.

About Worthington Enterprises

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.