Worthington Enterprises, Inc. (NYSE:WOR) Position Reduced by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Worthington Enterprises, Inc. (NYSE:WOR) by 42.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,002 shares of the industrial products company’s stock after selling 12,657 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Worthington Enterprises were worth $852,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Worthington Enterprises during the 4th quarter valued at $394,000. LPL Financial LLC grew its holdings in shares of Worthington Enterprises by 9.2% during the fourth quarter. LPL Financial LLC now owns 7,396 shares of the industrial products company’s stock valued at $297,000 after buying an additional 624 shares in the last quarter. JPMorgan Chase & Co. raised its position in Worthington Enterprises by 44.0% during the fourth quarter. JPMorgan Chase & Co. now owns 198,848 shares of the industrial products company’s stock valued at $7,976,000 after buying an additional 60,733 shares during the period. Wellington Management Group LLP raised its position in Worthington Enterprises by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 69,680 shares of the industrial products company’s stock valued at $2,795,000 after buying an additional 1,548 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new stake in Worthington Enterprises in the 4th quarter worth about $2,333,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analyst Ratings Changes

WOR has been the topic of several research analyst reports. Canaccord Genuity Group lifted their target price on Worthington Enterprises from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. The Goldman Sachs Group increased their target price 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.00.

Worthington Enterprises Stock Up 0.5%

WOR opened at $63.01 on Wednesday. The company has a market capitalization of $3.14 billion, a PE ratio of 32.99 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62. Worthington Enterprises, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $70.91. The business has a 50-day moving average of $61.68 and a 200-day moving average of $52.09.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.22. The firm had revenue of $317.88 million for the quarter, compared to the consensus estimate of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Equities research analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal 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 paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. This is a positive change from Worthington Enterprises’s previous quarterly dividend of $0.17. Worthington Enterprises’s payout ratio 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.