Worthington Enterprises, Inc. $WOR Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,416 shares of the industrial products company’s stock after buying an additional 1,224 shares during the quarter. State of Alaska Department of Revenue’s holdings in Worthington Enterprises were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Worthington Enterprises by 19.8% during the second quarter. GAMMA Investing LLC now owns 1,969 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 325 shares in the last quarter. Park National Corp OH boosted its stake in Worthington Enterprises by 3.3% during the 2nd quarter. Park National Corp OH now owns 11,382 shares of the industrial products company’s stock valued at $724,000 after purchasing an additional 365 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Worthington Enterprises by 1.3% during the 1st quarter. Victory Capital Management Inc. now owns 30,188 shares of the industrial products company’s stock valued at $1,512,000 after purchasing an additional 374 shares during the period. Cardinal Capital Management raised its stake in shares of Worthington Enterprises by 2.0% in the 2nd quarter. Cardinal Capital Management now owns 27,196 shares of the industrial products company’s stock worth $1,731,000 after buying an additional 542 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Worthington Enterprises by 4.5% in the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after buying an additional 554 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WOR has been the subject of several research reports. The Goldman Sachs Group raised their target price on Worthington Enterprises from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, June 26th. Canaccord Genuity Group cut their price target on shares of Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Saturday, September 27th. CJS Securities upgraded shares of Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a report on Wednesday, September 24th. Finally, Zacks Research lowered shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.33.

Worthington Enterprises Price Performance

NYSE WOR opened at $55.56 on Friday. The stock’s 50-day moving average price is $62.48 and its two-hundred day moving average price is $58.26. The company has a current ratio of 3.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.77 billion, a PE ratio of 26.09 and a beta of 1.17. Worthington Enterprises, Inc. has a 1 year low of $37.88 and a 1 year high of $70.91.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, September 23rd. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $303.70 million during the quarter, compared to analysts’ expectations of $291.84 million. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.70%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share. On average, analysts predict that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, December 15th. Worthington Enterprises’s payout ratio is presently 35.68%.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, Director Michael J. Endres bought 10,000 shares of Worthington Enterprises stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of $52.95 per share, for a total transaction of $529,500.00. Following the completion of the acquisition, the director directly owned 95,524 shares of the company’s stock, valued at approximately $5,057,995.80. This trade represents a 11.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by company insiders.

Worthington Enterprises Company 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.