MML Investors Services LLC Raises Stake in Worthington Enterprises, Inc. (NYSE:WOR)

MML Investors Services LLC increased its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 24.5% in the third quarter, Holdings Channel reports. The firm owned 7,827 shares of the industrial products company’s stock after acquiring an additional 1,538 shares during the period. MML Investors Services LLC’s holdings in Worthington Enterprises were worth $324,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of Worthington Enterprises by 43.7% in the 2nd quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock valued at $26,916,000 after acquiring an additional 172,850 shares during the period. Private Wealth Strategies L.L.C. acquired a new stake in Worthington Enterprises in the 2nd quarter valued at $3,913,000. Edgestream Partners L.P. purchased a new position in Worthington Enterprises in the second quarter valued at about $3,060,000. Panagora Asset Management Inc. acquired a new position in shares of Worthington Enterprises during the second quarter worth about $2,044,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Worthington Enterprises in the third quarter worth about $1,764,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analysts Set New Price Targets

WOR has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Canaccord Genuity Group raised their price target on shares of Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th.

Insider Transactions at Worthington Enterprises

In other news, CFO Joseph B. Hayek purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were acquired at an average cost of $40.21 per share, with a total value of $100,525.00. Following the transaction, the chief financial officer now owns 168,875 shares in the company, valued at approximately $6,790,463.75. The trade was a 1.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 37.50% of the company’s stock.

Worthington Enterprises Price Performance

WOR stock opened at $41.11 on Wednesday. The stock’s 50 day moving average is $40.40 and its two-hundred day moving average is $44.01. Worthington Enterprises, Inc. has a 52-week low of $37.88 and a 52-week high of $69.96. The company has a market capitalization of $2.07 billion, a PE ratio of 54.09 and a beta of 1.26. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business had revenue of $274.05 million during the quarter, compared to analyst estimates of $273.77 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year.

Worthington Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.65%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 81.93%.

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.