Royce & Associates LP Raises Stock Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Royce & Associates LP increased its stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 31.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,503 shares of the industrial products company's stock after acquiring an additional 16,328 shares during the period. Royce & Associates LP owned about 0.14% of Worthington Enterprises worth $2,839,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. KBC Group NV lifted its stake in Worthington Enterprises by 45.1% during the third quarter. KBC Group NV now owns 1,136 shares of the industrial products company's stock worth $47,000 after purchasing an additional 353 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Worthington Enterprises in the 2nd quarter worth approximately $57,000. nVerses Capital LLC purchased a new stake in Worthington Enterprises in the third quarter worth approximately $83,000. EntryPoint Capital LLC grew its position in Worthington Enterprises by 255.3% during the first quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Worthington Enterprises during the third quarter worth approximately $121,000. Institutional investors own 51.59% of the company's stock.

Insiders Place Their Bets

In related news, CFO Joseph B. Hayek bought 2,500 shares of the company's stock in a transaction dated Friday, October 11th. The stock was purchased at an average cost of $40.21 per share, with a total value of $100,525.00. Following the transaction, the chief financial officer now owns 168,875 shares in the company, valued at approximately $6,790,463.75. This trade represents a 1.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 37.50% of the company's stock.

Analysts Set New Price Targets

WOR has been the subject of a number of research reports. StockNews.com raised shares of Worthington Enterprises from a "sell" rating to a "hold" rating in a research note on Wednesday, September 25th. Canaccord Genuity Group restated a "hold" rating and set a $46.00 price target on shares of Worthington Enterprises in a research report on Friday, October 4th. Finally, Canaccord Genuity Group reduced their price objective on Worthington Enterprises from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, Worthington Enterprises presently has a consensus rating of "Hold" and an average price target of $45.00.

Worthington Enterprises Trading Down 2.9 %

Shares of NYSE WOR traded down $1.15 during mid-day trading on Tuesday, hitting $38.49. The stock had a trading volume of 133,960 shares, compared to its average volume of 280,102. The business has a 50 day moving average price of $41.53 and a two-hundred day moving average price of $47.02. Worthington Enterprises, Inc. has a 1 year low of $38.27 and a 1 year high of $69.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. The firm has a market cap of $1.93 billion, a P/E ratio of 50.65 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.21). The firm had revenue of $257.31 million during the quarter, compared to analysts' expectations of $296.05 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. Worthington Enterprises's revenue was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.06 EPS.

Worthington Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, December 13th. Worthington Enterprises's dividend payout ratio (DPR) is currently 89.47%.

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.