New York State Teachers Retirement System Trims Holdings in Worthington Enterprises, Inc. $WOR

New York State Teachers Retirement System decreased its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 28.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,382 shares of the industrial products company’s stock after selling 12,722 shares during the period. New York State Teachers Retirement System’s holdings in Worthington Enterprises were worth $1,688,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WOR. Allworth Financial LP increased its stake in shares of Worthington Enterprises by 872.0% during the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after buying an additional 436 shares during the period. McMillan Office Inc. purchased a new position in Worthington Enterprises during the 4th quarter valued at $31,000. Farther Finance Advisors LLC lifted its position in shares of Worthington Enterprises by 81.3% in the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 304 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Worthington Enterprises by 823.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 757 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 675 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Worthington Enterprises by 693.6% during the second quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock valued at $39,000 after buying an additional 541 shares during the period. 51.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on WOR. Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research report on Monday, April 20th. Finally, Canaccord Genuity Group lowered their target price on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.50.

Worthington Enterprises Stock Up 2.9%

NYSE WOR traded up $1.51 during trading hours on Friday, reaching $54.27. 267,341 shares of the company’s stock traded hands, compared to its average volume of 348,377. Worthington Enterprises, Inc. has a 52-week low of $45.01 and a 52-week high of $67.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43. The firm has a 50-day simple moving average of $56.18 and a 200 day simple moving average of $54.51. The firm has a market cap of $2.67 billion, a PE ratio of 17.28 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The business had revenue of $371.46 million for the quarter, compared to the consensus estimate of $386.49 million. During the same period in the prior year, the business posted $1.06 EPS. Worthington Enterprises’s revenue for the quarter was up 16.9% on a year-over-year basis. Sell-side analysts anticipate that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.20 per share. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.5%. Worthington Enterprises’s dividend payout ratio is 24.20%.

About Worthington Enterprises

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.