Principal Financial Group Inc. Purchases 2,930 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Principal Financial Group Inc. raised its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,928 shares of the industrial products company’s stock after acquiring an additional 2,930 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of Worthington Enterprises worth $7,760,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in Worthington Enterprises by 121.0% during the fourth quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company’s stock worth $33,000 after buying an additional 455 shares during the last quarter. Anchor Investment Management LLC acquired a new position in Worthington Enterprises in the 4th quarter worth about $40,000. State of Wyoming bought a new position in Worthington Enterprises in the fourth quarter valued at about $51,000. Itau Unibanco Holding S.A. grew its holdings in shares of Worthington Enterprises by 41.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 501 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Worthington Enterprises by 77.2% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 716 shares during the period. Institutional investors and hedge funds own 51.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WOR. The Goldman Sachs Group boosted their price target on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, June 26th. Canaccord Genuity Group boosted their price target on shares of Worthington Enterprises from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $59.00.

Worthington Enterprises Stock Down 1.9%

Shares of Worthington Enterprises stock opened at $62.77 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 3.48. Worthington Enterprises, Inc. has a 52-week low of $37.88 and a 52-week high of $70.91. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 32.86 and a beta of 1.19. The company’s 50 day moving average price is $60.72 and its 200-day moving average price is $49.82.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.84 by $0.22. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%. The business had revenue of $317.88 million during the quarter, compared to analyst estimates of $300.96 million. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.21%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.17. Worthington Enterprises’s dividend payout ratio (DPR) is presently 35.60%.

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.