VELA Investment Management LLC Purchases New Position in Worthington Enterprises, Inc. (NYSE:WOR)

VELA Investment Management LLC purchased a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 30,512 shares of the industrial products company’s stock, valued at approximately $1,224,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WOR. Pacer Advisors Inc. boosted its stake in Worthington Enterprises by 9.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company’s stock valued at $71,032,000 after buying an additional 156,762 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Worthington Enterprises during the third quarter valued at approximately $3,663,000. JPMorgan Chase & Co. boosted its stake in Worthington Enterprises by 90.7% during the third quarter. JPMorgan Chase & Co. now owns 138,115 shares of the industrial products company’s stock valued at $5,725,000 after buying an additional 65,685 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Worthington Enterprises during the third quarter valued at approximately $1,764,000. Finally, Jane Street Group LLC raised its position in Worthington Enterprises by 98.9% during the third quarter. Jane Street Group LLC now owns 79,464 shares of the industrial products company’s stock valued at $3,294,000 after purchasing an additional 39,507 shares during the period. 51.59% of the stock is owned by institutional investors.

Worthington Enterprises Trading Down 1.6 %

Shares of WOR stock opened at $41.54 on Friday. Worthington Enterprises, Inc. has a 1 year low of $37.88 and a 1 year high of $69.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. The stock’s 50 day simple moving average is $41.61 and its two-hundred day simple moving average is $41.82. The company has a market cap of $2.08 billion, a PE ratio of 50.04 and a beta of 1.24.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. 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 company’s revenue for the quarter was down 8.1% on a year-over-year basis. Research analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.64%. Worthington Enterprises’s payout ratio is 81.93%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WOR shares. Seaport Res Ptn upgraded Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group upped their price objective on Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.00.

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.