Worthington Enterprises, Inc. (NYSE:WOR) Position Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in Worthington Enterprises, Inc. (NYSE:WOR) by 2.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 25,220 shares of the industrial products company’s stock after selling 718 shares during the quarter. Victory Capital Management Inc.’s holdings in Worthington Enterprises were worth $1,194,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Worthington Enterprises by 6.6% in the 4th 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 during the period. Gerber LLC purchased a new stake in shares of Worthington Enterprises in the fourth quarter valued at $1,856,000. Denali Advisors LLC boosted its position in shares of Worthington Enterprises by 35.4% in the first quarter. Denali Advisors LLC now owns 81,021 shares of the industrial products company’s stock worth $5,042,000 after buying an additional 21,164 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Worthington Enterprises by 58.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 58,184 shares of the industrial products company’s stock valued at $3,621,000 after buying an additional 21,543 shares in the last quarter. Finally, Capital International Investors acquired a new position in Worthington Enterprises during the fourth quarter valued at $26,329,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. 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. The Goldman Sachs Group reduced their price target on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a research report on Tuesday, July 2nd. Finally, StockNews.com downgraded shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.33.

Worthington Enterprises Price Performance

Shares of NYSE:WOR opened at $46.55 on Friday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 21.06 and a beta of 1.25. Worthington Enterprises, Inc. has a 1 year low of $36.29 and a 1 year high of $69.96. 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 business has a fifty day simple moving average of $46.01 and a 200 day simple moving average of $52.99.

Worthington Enterprises (NYSE:WOR) last posted its quarterly 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 firm had revenue of $318.80 million for 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 firm’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period last year, the business earned $2.74 earnings per share.

Worthington Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 13th. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.46%. 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.