JPMorgan Chase & Co. Has $5.73 Million Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

JPMorgan Chase & Co. raised its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 90.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,115 shares of the industrial products company’s stock after buying an additional 65,685 shares during the quarter. JPMorgan Chase & Co.’s holdings in Worthington Enterprises were worth $5,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WOR. KBC Group NV raised its position in Worthington Enterprises by 45.1% during the third quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock valued at $47,000 after buying an additional 353 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Worthington Enterprises during the 2nd quarter valued at about $57,000. nVerses Capital LLC purchased a new stake in shares of Worthington Enterprises in the third quarter worth approximately $83,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Worthington Enterprises in the third quarter worth approximately $85,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Worthington Enterprises during the third quarter worth approximately $110,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Worthington Enterprises Price Performance

Shares of WOR opened at $41.84 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. The firm has a market cap of $2.10 billion, a PE ratio of 50.42 and a beta of 1.25. The firm’s 50 day moving average price is $40.53 and its 200 day moving average price is $42.79. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $69.96.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The firm had revenue of $274.05 million for the quarter, compared to the consensus estimate of $273.77 million. During the same period in the prior year, the business posted $0.78 earnings per share. The business’s quarterly revenue was down 8.1% on a year-over-year basis.

Worthington Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 1.63%. Worthington Enterprises’s payout ratio is 81.93%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group lowered their target price 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.

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.