TD Asset Management Inc Raises Stake in Worthington Enterprises, Inc. (NYSE:WOR)

TD Asset Management Inc lifted its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 136.4% in the second quarter, Holdings Channel reports. The firm owned 7,800 shares of the industrial products company’s stock after purchasing an additional 4,500 shares during the period. TD Asset Management Inc’s holdings in Worthington Enterprises were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WOR. Charles Schwab Investment Management Inc. grew its holdings in shares of Worthington Enterprises by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 478,150 shares of the industrial products company’s stock worth $27,518,000 after purchasing an additional 8,108 shares during the period. BNP Paribas Financial Markets lifted its position in Worthington Enterprises by 51.7% during the 4th quarter. BNP Paribas Financial Markets now owns 51,047 shares of the industrial products company’s stock worth $2,938,000 after acquiring an additional 17,400 shares in the last quarter. Jump Financial LLC acquired a new position in Worthington Enterprises during the 4th quarter worth approximately $204,000. Dimensional Fund Advisors LP lifted its position in Worthington Enterprises by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,448,876 shares of the industrial products company’s stock worth $140,934,000 after acquiring an additional 125,592 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Worthington Enterprises by 38.7% during the 4th quarter. Principal Financial Group Inc. now owns 158,912 shares of the industrial products company’s stock worth $9,145,000 after acquiring an additional 44,372 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

Shares of WOR opened at $45.24 on Monday. The business’s 50 day moving average is $45.90 and its two-hundred day moving average is $53.33. Worthington Enterprises, Inc. has a 52-week low of $36.29 and a 52-week high of $69.96. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 20.47 and a beta of 1.25. The company has a quick ratio of 2.86, a current ratio of 3.78 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. The business had revenue of $318.80 million during the quarter, compared to analyst estimates of $352.82 million. During the same period in the previous year, the company earned $2.74 earnings per share. The business’s revenue for the quarter was down 13.6% on a year-over-year basis.

Worthington Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 13th. Worthington Enterprises’s payout ratio is 30.77%.

Wall Street Analyst Weigh In

WOR has been the topic of several recent research reports. StockNews.com lowered Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group reduced 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, Canaccord Genuity Group reduced 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. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $50.33.

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.