JPMorgan Chase & Co. Increases Stake in Worthington Enterprises, Inc. (NYSE:WOR)

JPMorgan Chase & Co. increased its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 198,848 shares of the industrial products company's stock after buying an additional 60,733 shares during the period. JPMorgan Chase & Co. owned 0.40% of Worthington Enterprises worth $7,976,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. KBC Group NV increased its position in shares of Worthington Enterprises by 63.7% during the fourth quarter. KBC Group NV now owns 1,860 shares of the industrial products company's stock valued at $75,000 after buying an additional 724 shares during the period. Aigen Investment Management LP purchased a new position in Worthington Enterprises during the fourth quarter valued at approximately $205,000. EntryPoint Capital LLC bought a new stake in Worthington Enterprises during the 4th quarter worth approximately $240,000. AXQ Capital LP purchased a new stake in Worthington Enterprises in the 4th quarter worth approximately $246,000. Finally, XTX Topco Ltd bought a new position in Worthington Enterprises in the 3rd quarter valued at $257,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Enterprises Price Performance

NYSE:WOR traded up $1.35 during midday trading on Tuesday, hitting $47.78. The company had a trading volume of 334,848 shares, compared to its average volume of 305,354. The company has a market capitalization of $2.38 billion, a PE ratio of 57.56 and a beta of 1.06. 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 52-week low of $37.88 and a 52-week high of $60.71. The stock's fifty day moving average price is $44.40 and its 200-day moving average price is $42.03.

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

Worthington Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.42%. Worthington Enterprises's payout ratio is 57.63%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WOR shares. The Goldman Sachs Group increased their price objective on Worthington Enterprises from $39.00 to $44.00 and gave the stock a "sell" rating in a research report on Thursday, April 3rd. Canaccord Genuity Group raised their price target on Worthington Enterprises from $49.00 to $54.00 and gave the company a "hold" rating in a report on Thursday, March 27th. Finally, Seaport Res Ptn raised Worthington Enterprises to a "strong-buy" rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $48.00.

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.