AQR Capital Management LLC Reduces Position in Worthington Enterprises, Inc. (NYSE:WOR)

AQR Capital Management LLC lowered its holdings in Worthington Enterprises, Inc. (NYSE:WOR) by 86.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,522 shares of the industrial products company’s stock after selling 119,788 shares during the period. AQR Capital Management LLC’s holdings in Worthington Enterprises were worth $924,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new position in shares of Worthington Enterprises in the 1st quarter valued at approximately $38,000. Itau Unibanco Holding S.A. acquired a new stake in Worthington Enterprises in the second quarter valued at $57,000. Neo Ivy Capital Management bought a new position in Worthington Enterprises during the 4th quarter valued at $81,000. EntryPoint Capital LLC grew its holdings in Worthington Enterprises by 255.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,238 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Worthington Enterprises by 19.7% during the 1st quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 391 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Price Performance

WOR opened at $40.28 on Friday. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $43.69 and its 200 day moving average price is $50.61. Worthington Enterprises, Inc. has a fifty-two week low of $36.38 and a fifty-two week high of $69.96. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 53.00 and a beta of 1.25.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The company had revenue of $257.31 million for the quarter, compared to analyst estimates of $296.05 million. During the same quarter in the previous year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was down 17.5% compared to the same quarter last year.

Worthington Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.69%. Worthington Enterprises’s dividend payout ratio (DPR) is 89.47%.

Analysts Set New Price Targets

WOR has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a research report on Tuesday, July 2nd. Canaccord Genuity Group cut their price objective on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $46.00 price target on shares of Worthington Enterprises in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.00.

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.