Edgestream Partners L.P. Makes New Investment in Worthington Enterprises, Inc. (NYSE:WOR)

Edgestream Partners L.P. bought a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 64,642 shares of the industrial products company’s stock, valued at approximately $3,060,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Fidelis Capital Partners LLC acquired a new stake in Worthington Enterprises in the first quarter valued at approximately $38,000. Neo Ivy Capital Management acquired a new stake in Worthington Enterprises in the 4th quarter valued at $81,000. TFO Wealth Partners LLC increased its holdings in Worthington Enterprises by 60,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,824 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 1,821 shares in the last quarter. EntryPoint Capital LLC increased its holdings in Worthington Enterprises by 255.3% in 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 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 worth $148,000 after acquiring an additional 391 shares during the period. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Wall Street Analysts Forecast Growth

WOR has been the subject of a number of research reports. The Goldman Sachs Group cut their target price on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a research note on Tuesday, July 2nd. Canaccord Genuity Group cut their price objective on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, June 27th. Finally, StockNews.com downgraded Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.33.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $45.37 on Thursday. Worthington Enterprises, Inc. has a twelve month low of $36.29 and a twelve month high of $69.96. The company has a market cap of $2.27 billion, a P/E ratio of 20.53 and a beta of 1.25. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $46.01 and its 200-day moving average price is $53.04.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The business 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 company’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period last year, the business earned $2.74 earnings per share.

Worthington Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.50%. This is a positive change from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s payout ratio is 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.