Inceptionr LLC Buys Shares of 8,847 Worthington Enterprises, Inc. (NYSE:WOR)

Inceptionr LLC bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 8,847 shares of the industrial products company’s stock, valued at approximately $355,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of Worthington Enterprises by 9.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company’s stock worth $71,032,000 after buying an additional 156,762 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Worthington Enterprises by 187.9% in the fourth quarter. Fisher Asset Management LLC now owns 202,305 shares of the industrial products company’s stock worth $8,114,000 after buying an additional 132,040 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Worthington Enterprises in the third quarter worth $3,663,000. JPMorgan Chase & Co. lifted its stake in shares of Worthington Enterprises by 90.7% in the third quarter. JPMorgan Chase & Co. now owns 138,115 shares of the industrial products company’s stock worth $5,725,000 after buying an additional 65,685 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Worthington Enterprises in the third quarter worth $1,764,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WOR. Seaport Res Ptn upgraded shares of Worthington Enterprises to a “strong-buy” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group boosted their price objective on shares of Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.00.

Worthington Enterprises Price Performance

NYSE:WOR opened at $42.14 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of 50.78 and a beta of 1.21. Worthington Enterprises, Inc. has a one year low of $37.88 and a one year high of $69.96. The company has a fifty day moving average price of $41.60 and a 200 day moving average price of $41.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The firm had revenue of $274.05 million during the quarter, compared to analysts’ expectations of $273.77 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. Analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, March 14th. Worthington Enterprises’s dividend payout ratio (DPR) is presently 81.93%.

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.