Geode Capital Management LLC Reduces Position in Worthington Enterprises, Inc. (NYSE:WOR)

Geode Capital Management LLC trimmed its position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 13.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 705,126 shares of the industrial products company's stock after selling 108,702 shares during the quarter. Geode Capital Management LLC owned 1.41% of Worthington Enterprises worth $28,290,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Worthington Enterprises by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 69,680 shares of the industrial products company's stock valued at $2,795,000 after purchasing an additional 1,548 shares during the period. Caisse Des Depots ET Consignations purchased a new position in Worthington Enterprises in the fourth quarter worth $465,000. JPMorgan Chase & Co. grew its holdings in Worthington Enterprises by 44.0% in the fourth quarter. JPMorgan Chase & Co. now owns 198,848 shares of the industrial products company's stock worth $7,976,000 after purchasing an additional 60,733 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Worthington Enterprises by 34.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,952 shares of the industrial products company's stock worth $396,000 after purchasing an additional 2,540 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Worthington Enterprises during the fourth quarter worth $240,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted 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 boosted their target price on shares of Worthington Enterprises from $49.00 to $54.00 and gave the company a "hold" rating in a research report on Thursday, March 27th. Finally, Seaport Res Ptn upgraded shares of Worthington Enterprises to a "strong-buy" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $48.00.

Worthington Enterprises Price Performance

Shares of Worthington Enterprises stock traded up $1.56 during trading hours on Wednesday, reaching $49.37. The stock had a trading volume of 18,328 shares, compared to its average volume of 304,222. The stock's 50 day moving average is $44.40 and its 200 day moving average is $42.03. The firm has a market capitalization of $2.46 billion, a PE ratio of 59.48 and a beta of 1.06. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $60.71. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.18. The business had revenue of $304.52 million during the quarter, compared to the consensus estimate of $289.09 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The company's revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Equities analysts expect that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.38%. Worthington Enterprises's dividend payout ratio is currently 57.63%.

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.