Itau Unibanco Holding S.A. Makes New $57,000 Investment in Worthington Enterprises, Inc. (NYSE:WOR)

Itau Unibanco Holding S.A. acquired a new stake in Worthington Enterprises, Inc. (NYSE:WOR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,195 shares of the industrial products company’s stock, valued at approximately $57,000.

Other institutional investors have also recently modified their holdings of the company. Jump Financial LLC bought a new stake in Worthington Enterprises during the fourth quarter worth about $204,000. Principal Financial Group Inc. raised its position in shares of Worthington Enterprises by 38.7% in the 4th quarter. Principal Financial Group Inc. now owns 158,912 shares of the industrial products company’s stock valued at $9,145,000 after buying an additional 44,372 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Worthington Enterprises by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,863 shares of the industrial products company’s stock valued at $1,661,000 after buying an additional 350 shares in the last quarter. Norges Bank bought a new stake in shares of Worthington Enterprises during the 4th quarter worth approximately $19,073,000. Finally, TFO Wealth Partners LLC boosted its position in shares of Worthington Enterprises by 60,700.0% during 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. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $45.88 on Monday. The company’s 50 day moving average price is $45.97 and its two-hundred day moving average price is $52.74. The firm has a market capitalization of $2.30 billion, a P/E ratio of 20.76 and a beta of 1.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.86. Worthington Enterprises, Inc. has a fifty-two week low of $36.29 and a fifty-two week high of $69.96.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data 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 the consensus estimate 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 was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.74 EPS.

Worthington Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.48%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Canaccord Genuity Group cut their target price 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. The Goldman Sachs Group dropped their price objective on 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 cut Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.33.

Worthington Enterprises 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.