Worthington Enterprises, Inc. (NYSE:WOR) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,718 shares of the industrial products company’s stock after buying an additional 462 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Worthington Enterprises were worth $839,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Worthington Enterprises by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock worth $224,548,000 after purchasing an additional 242,833 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Worthington Enterprises by 43.7% during the 2nd quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock worth $26,916,000 after buying an additional 172,850 shares in the last quarter. Private Wealth Strategies L.L.C. purchased a new stake in shares of Worthington Enterprises in the second quarter valued at approximately $3,913,000. Edgestream Partners L.P. acquired a new position in Worthington Enterprises during the second quarter worth $3,060,000. Finally, Panagora Asset Management Inc. purchased a new position in Worthington Enterprises in the second quarter worth $2,044,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Stock Up 2.7 %

Shares of NYSE WOR opened at $40.28 on Monday. The firm has a market cap of $2.02 billion, a P/E ratio of 53.00 and a beta of 1.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. Worthington Enterprises, Inc. has a 1 year low of $36.38 and a 1 year high of $69.96. The firm’s 50 day moving average price is $43.69 and its 200 day moving average price is $50.54.

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

Worthington Enterprises Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.69%. Worthington Enterprises’s payout ratio is 89.47%.

Analyst Ratings Changes

Several equities research analysts have commented on WOR shares. Canaccord Genuity Group restated a “hold” rating and set a $46.00 target price on shares of Worthington Enterprises in a research report on Friday, October 4th. Canaccord Genuity Group dropped their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, September 26th. StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group cut their price target on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a research note on Tuesday, July 2nd. 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 has an average rating of “Hold” and an average target price 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.