Burney Co. Sells 1,302 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Burney Co. decreased its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,723 shares of the industrial products company’s stock after selling 1,302 shares during the quarter. Burney Co.’s holdings in Worthington Enterprises were worth $697,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Worthington Enterprises by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock valued at $224,548,000 after buying an additional 242,833 shares in the last quarter. Gerber LLC purchased a new position in shares of Worthington Enterprises in the 4th quarter worth approximately $1,856,000. Denali Advisors LLC boosted its stake in Worthington Enterprises by 35.4% in the 1st quarter. Denali Advisors LLC now owns 81,021 shares of the industrial products company’s stock worth $5,042,000 after purchasing an additional 21,164 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Worthington Enterprises by 58.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 58,184 shares of the industrial products company’s stock worth $3,621,000 after purchasing an additional 21,543 shares in the last quarter. Finally, Capital International Investors acquired a new stake in Worthington Enterprises in the 4th quarter worth approximately $26,329,000. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

NYSE WOR traded up $0.39 on Thursday, hitting $45.50. 72,327 shares of the company’s stock traded hands, compared to its average volume of 278,869. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33. Worthington Enterprises, Inc. has a 1-year low of $36.29 and a 1-year high of $69.96. The firm’s 50-day moving average price is $46.77 and its two-hundred day moving average price is $54.88. The firm has a market capitalization of $2.28 billion, a PE ratio of 20.66 and a beta of 1.28.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data 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 net margin of 3.79% and a return on equity of 15.57%. The business had revenue of $318.80 million for the quarter, compared to analyst estimates of $352.82 million. During the same quarter in the previous 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.49%. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 13th. Worthington Enterprises’s payout ratio is presently 28.96%.

Analyst Upgrades and Downgrades

WOR has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a research note on Tuesday, July 2nd. StockNews.com cut shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, June 26th. Finally, Canaccord Genuity Group lowered their target price on shares of Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.33.

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.