VELA Investment Management LLC Purchases New Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

VELA Investment Management LLC bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,512 shares of the industrial products company's stock, valued at approximately $1,224,000. VELA Investment Management LLC owned 0.06% of Worthington Enterprises at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV grew its stake in Worthington Enterprises by 45.1% in the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 353 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Worthington Enterprises in the 3rd quarter worth approximately $85,000. Point72 DIFC Ltd purchased a new stake in shares of Worthington Enterprises during the third quarter worth about $110,000. Point72 Hong Kong Ltd acquired a new position in Worthington Enterprises during the 3rd quarter worth $124,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Worthington Enterprises in the 3rd quarter worth approximately $199,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Seaport Res Ptn raised Worthington Enterprises to a "strong-buy" rating in a research report on Wednesday, January 29th. Canaccord Genuity Group lifted their target price on shares of Worthington Enterprises from $46.00 to $49.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $46.00.

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Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock traded down $1.62 on Tuesday, reaching $39.60. The stock had a trading volume of 193,221 shares, compared to its average volume of 271,844. The stock has a market cap of $1.98 billion, a P/E ratio of 47.77 and a beta of 1.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.50 and a current ratio of 3.56. Worthington Enterprises, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $69.96. The business's 50-day moving average price is $41.63 and its two-hundred day moving average price is $41.76.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings data on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.08. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business had revenue of $274.05 million during the quarter, compared to analyst estimates of $273.77 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm's revenue for the quarter was down 8.1% on a year-over-year basis. On average, sell-side analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Friday, March 14th. Worthington Enterprises's dividend payout ratio is currently 81.93%.

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.