Cresset Asset Management LLC Purchases 4,279 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Cresset Asset Management LLC grew its position in Worthington Enterprises, Inc. (NYSE:WOR) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,325 shares of the industrial products company’s stock after purchasing an additional 4,279 shares during the period. Cresset Asset Management LLC’s holdings in Worthington Enterprises were worth $1,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Balyasny Asset Management L.P. lifted its stake in Worthington Enterprises by 236.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company’s stock valued at $8,916,000 after acquiring an additional 156,173 shares in the last quarter. Bastion Asset Management Inc. bought a new stake in shares of Worthington Enterprises in the fourth quarter worth $3,455,000. Itau Unibanco Holding S.A. boosted its holdings in Worthington Enterprises by 41.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 501 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Worthington Enterprises in the fourth quarter valued at $984,000. Finally, Lido Advisors LLC acquired a new stake in Worthington Enterprises in the 4th quarter valued at $2,317,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Stock Performance

WOR opened at $58.21 on Friday. The company has a quick ratio of 2.50, a current ratio of 3.56 and a debt-to-equity ratio of 0.32. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $60.55. The business has a 50 day moving average of $47.08 and a 200-day moving average of $43.13. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 70.13 and a beta of 1.18.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.18. Worthington Enterprises had a return on equity of 14.70% and a net margin of 3.66%. The business had revenue of $304.52 million during the quarter, compared to the consensus estimate of $289.09 million. During the same quarter last year, the firm posted $0.80 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities research analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.17%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 57.63%.

Wall Street Analyst Weigh In

WOR has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on shares of Worthington Enterprises from $39.00 to $44.00 and gave the stock a “sell” rating in a research note on Thursday, April 3rd. Canaccord Genuity Group raised Worthington Enterprises from a “hold” rating to a “buy” rating and increased their price target for the company from $54.00 to $67.00 in a research report on Monday, May 5th. Finally, Seaport Res Ptn raised Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.33.

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.