Maryland State Retirement & Pension System Trims Position in Worthington Enterprises, Inc. (NYSE:WOR)

Maryland State Retirement & Pension System lowered its holdings in Worthington Enterprises, Inc. (NYSE:WOR) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,665 shares of the industrial products company’s stock after selling 412 shares during the period. Maryland State Retirement & Pension System’s holdings in Worthington Enterprises were worth $505,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new position in shares of Worthington Enterprises during the 1st quarter valued at about $38,000. Neo Ivy Capital Management purchased a new stake in Worthington Enterprises in the fourth quarter valued at approximately $81,000. TFO Wealth Partners LLC increased its position in Worthington Enterprises by 60,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,824 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,821 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of Worthington Enterprises by 255.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,238 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Worthington Enterprises by 19.7% in the 1st quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 391 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Worthington Enterprises Trading Down 4.7 %

Shares of WOR opened at $43.66 on Wednesday. Worthington Enterprises, Inc. has a 12 month low of $36.29 and a 12 month high of $69.96. The stock’s 50-day moving average is $46.34 and its two-hundred day moving average is $54.39. 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 stock has a market cap of $2.19 billion, a PE ratio of 19.76 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last released its quarterly 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). Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. The company had revenue of $318.80 million for the quarter, compared to analyst estimates of $352.82 million. During the same period last year, the firm posted $2.74 earnings per share. The business’s revenue was down 13.6% on a year-over-year basis.

Worthington Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.56%. This is a positive change from Worthington Enterprises’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 13th. Worthington Enterprises’s dividend payout ratio (DPR) is presently 28.96%.

Analysts Set New Price Targets

WOR has been the topic of a number of research analyst reports. 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 reduced their price objective on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Finally, StockNews.com cut Worthington Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.33.

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.