IFG Advisory LLC Purchases 3,666 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

IFG Advisory LLC boosted its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 30.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,666 shares of the industrial products company’s stock after acquiring an additional 3,666 shares during the period. IFG Advisory LLC’s holdings in Worthington Enterprises were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WOR. New York State Teachers Retirement System lifted its position in Worthington Enterprises by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 57,557 shares of the industrial products company’s stock valued at $3,582,000 after acquiring an additional 200 shares in the last quarter. Comerica Bank boosted its position in shares of Worthington Enterprises by 0.5% during the first quarter. Comerica Bank now owns 46,919 shares of the industrial products company’s stock worth $2,920,000 after buying an additional 250 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Worthington Enterprises by 3.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,153 shares of the industrial products company’s stock worth $454,000 after buying an additional 293 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Worthington Enterprises by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company’s stock valued at $729,000 after buying an additional 300 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Worthington Enterprises by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,863 shares of the industrial products company’s stock valued at $1,661,000 after acquiring an additional 350 shares in the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WOR shares. Canaccord Genuity Group cut their price target on shares of Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, June 27th. The Goldman Sachs Group reduced their price target on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a research report on Tuesday, July 2nd. Finally, StockNews.com lowered Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.33.

Worthington Enterprises Price Performance

NYSE:WOR opened at $45.80 on Friday. The company has a quick ratio of 2.86, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. Worthington Enterprises, Inc. has a 12-month low of $36.29 and a 12-month high of $69.96. The stock’s 50 day moving average price is $46.58 and its two-hundred day moving average price is $54.67. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 20.72 and a beta of 1.28.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The company had revenue of $318.80 million for the quarter, compared to the consensus estimate of $352.82 million. Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period last year, the firm earned $2.74 earnings per share.

Worthington Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s payout ratio is currently 28.96%.

Worthington Enterprises 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.