Quest Partners LLC Makes New Investment in Worthington Enterprises, Inc. (NYSE:WOR)

Quest Partners LLC bought a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 10,317 shares of the industrial products company’s stock, valued at approximately $488,000.

A number of other large investors also recently made changes to their positions in the stock. Capital International Investors bought a new position in Worthington Enterprises during the fourth quarter worth about $26,329,000. Norges Bank bought a new position in Worthington Enterprises during the 4th quarter worth approximately $19,073,000. Vanguard Group Inc. increased its stake in Worthington Enterprises by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock valued at $224,548,000 after purchasing an additional 242,833 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Worthington Enterprises by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,448,876 shares of the industrial products company’s stock valued at $140,934,000 after purchasing an additional 125,592 shares in the last quarter. Finally, Private Wealth Strategies L.L.C. acquired a new stake in Worthington Enterprises in the fourth quarter worth $5,092,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $44.21 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.86. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 20.00 and a beta of 1.25. The stock’s 50-day moving average is $45.88 and its 200-day moving average is $53.57. Worthington Enterprises, Inc. has a one year low of $36.29 and a one year high of $69.96.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Wednesday, June 26th. The industrial products company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.14). The firm had revenue of $318.80 million during the quarter, compared to the consensus estimate of $352.82 million. Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. The company’s revenue was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.74 EPS.

Worthington Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.17 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.54%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s dividend payout ratio (DPR) is 30.77%.

Analyst Upgrades and Downgrades

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

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.