Geode Capital Management LLC Purchases 25,824 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Geode Capital Management LLC grew its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 813,828 shares of the industrial products company's stock after buying an additional 25,824 shares during the period. Geode Capital Management LLC owned approximately 1.62% of Worthington Enterprises worth $33,739,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System raised its position in Worthington Enterprises by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company's stock worth $729,000 after purchasing an additional 300 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Worthington Enterprises during the 2nd quarter worth approximately $2,044,000. IFG Advisory LLC grew its position in Worthington Enterprises by 30.6% in the second quarter. IFG Advisory LLC now owns 15,666 shares of the industrial products company's stock valued at $741,000 after acquiring an additional 3,666 shares during the period. Private Wealth Strategies L.L.C. acquired a new position in Worthington Enterprises during the second quarter worth $3,913,000. Finally, TD Asset Management Inc raised its stake in Worthington Enterprises by 136.4% during the second quarter. TD Asset Management Inc now owns 7,800 shares of the industrial products company's stock worth $369,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors own 51.59% of the company's stock.

Insider Buying and Selling at Worthington Enterprises

In other news, CFO Joseph B. Hayek purchased 2,500 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were acquired at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the transaction, the chief financial officer now directly owns 168,875 shares of the company's stock, valued at approximately $6,790,463.75. The trade was a 1.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 37.50% of the company's stock.

Worthington Enterprises Price Performance

NYSE WOR traded up $0.26 on Thursday, hitting $41.37. 143,432 shares of the company were exchanged, compared to its average volume of 280,256. Worthington Enterprises, Inc. has a 1-year low of $37.88 and a 1-year high of $69.96. The firm has a 50 day moving average of $40.42 and a two-hundred day moving average of $43.90. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.08 billion, a P/E ratio of 54.43 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its earnings results on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. The company had revenue of $274.05 million for the quarter, compared to analyst estimates of $273.77 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. Worthington Enterprises's quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share.

Worthington Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.64%. Worthington Enterprises's payout ratio is presently 81.93%.

Analysts Set New Price Targets

WOR has been the topic of several analyst reports. StockNews.com raised shares of Worthington Enterprises from a "sell" rating to a "hold" rating in a report on Wednesday, September 25th. Canaccord Genuity Group decreased their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group lifted their target price on shares of Worthington Enterprises from $46.00 to $49.00 and gave the company a "hold" rating in a research note on Thursday, December 19th.

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.