Nisa Investment Advisors LLC Grows Stake in Worthington Enterprises, Inc. $WOR

Nisa Investment Advisors LLC lifted its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,460 shares of the industrial products company’s stock after purchasing an additional 255 shares during the period. Nisa Investment Advisors LLC owned about 0.07% of Worthington Enterprises worth $2,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WOR. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Worthington Enterprises during the first quarter worth about $11,769,000. American Century Companies Inc. increased its stake in shares of Worthington Enterprises by 24.1% during the first quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company’s stock worth $41,171,000 after purchasing an additional 159,798 shares in the last quarter. Millennium Management LLC increased its stake in shares of 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 purchasing an additional 124,867 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Worthington Enterprises by 739.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 122,141 shares of the industrial products company’s stock worth $6,118,000 after purchasing an additional 107,590 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Worthington Enterprises during the first quarter worth about $4,103,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Canaccord Genuity Group decreased their target price on shares of Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. 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. Zacks Research lowered shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.33.

Insider Activity at Worthington Enterprises

In related news, Director Michael J. Endres acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were purchased at an average cost of $52.95 per share, for a total transaction of $529,500.00. Following the acquisition, the director owned 95,524 shares in the company, valued at $5,057,995.80. The trade was a 11.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.

Worthington Enterprises Stock Performance

Shares of WOR stock opened at $55.48 on Friday. The firm’s 50 day moving average price is $59.76 and its 200-day moving average price is $59.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.24 and a current ratio of 3.30. Worthington Enterprises, Inc. has a one year low of $37.88 and a one year high of $70.91. The firm has a market cap of $2.76 billion, a P/E ratio of 26.04 and a beta of 1.17.

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

Worthington Enterprises Announces Dividend

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

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.