Creative Planning Increases Stake in Worthington Enterprises, Inc. $WOR

Creative Planning boosted its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 19.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,463 shares of the industrial products company’s stock after purchasing an additional 3,322 shares during the quarter. Creative Planning’s holdings in Worthington Enterprises were worth $1,302,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Worthington Enterprises by 24.1% during the 1st quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company’s stock valued at $41,171,000 after buying an additional 159,798 shares during the period. Geode Capital Management LLC boosted its holdings in Worthington Enterprises by 1.1% in the second quarter. Geode Capital Management LLC now owns 733,238 shares of the industrial products company’s stock valued at $46,670,000 after acquiring an additional 8,293 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Worthington Enterprises by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company’s stock valued at $27,051,000 after acquiring an additional 6,764 shares during the period. Bank of New York Mellon Corp grew its position in Worthington Enterprises by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 408,990 shares of the industrial products company’s stock valued at $26,028,000 after acquiring an additional 3,248 shares during the period. Finally, Millennium Management LLC increased its stake in Worthington Enterprises by 54.9% during the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after acquiring an additional 124,867 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Zacks Research cut Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Canaccord Genuity Group decreased their price objective on shares of Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. Wall Street Zen downgraded shares of Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, October 8th. Finally, CJS Securities upgraded Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price target for the company in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.33.

Worthington Enterprises Price Performance

Shares of WOR stock opened at $54.86 on Friday. The firm has a fifty day simple moving average of $55.57 and a 200-day simple moving average of $60.04. The company has a market capitalization of $2.72 billion, a PE ratio of 25.76 and a beta of 1.25. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $70.91. The company has a current ratio of 3.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Wednesday, December 28th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter. The firm had revenue of $1.23 billion for the quarter. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.70%. Equities research analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

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

Insider Activity

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

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.