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

JPMorgan Chase & Co. increased its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 90.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,115 shares of the industrial products company's stock after purchasing an additional 65,685 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.27% of Worthington Enterprises worth $5,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in shares of Worthington Enterprises by 2.0% during the 2nd quarter. Creative Planning now owns 12,160 shares of the industrial products company's stock worth $576,000 after acquiring an additional 244 shares in the last quarter. KBC Group NV lifted its position 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 valued at $47,000 after purchasing an additional 353 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Worthington Enterprises by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 4,531 shares of the industrial products company's stock worth $214,000 after buying an additional 445 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Worthington Enterprises by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,718 shares of the industrial products company's stock worth $839,000 after buying an additional 462 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Worthington Enterprises during the 2nd quarter valued at about $57,000. Institutional investors own 51.59% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WOR shares. StockNews.com upgraded Worthington Enterprises from a "sell" rating to a "hold" rating in a research report on Wednesday, September 25th. Canaccord Genuity Group cut their target price 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. Finally, Canaccord Genuity Group boosted their price objective on Worthington Enterprises from $46.00 to $49.00 and gave the company a "hold" rating in a report on Thursday, December 19th.

Worthington Enterprises Trading Up 0.5 %

NYSE:WOR traded up $0.20 during midday trading on Friday, hitting $42.02. The stock had a trading volume of 369,900 shares, compared to its average volume of 273,445. 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 one year low of $37.88 and a one year high of $69.96. The stock has a 50-day moving average of $40.52 and a 200 day moving average of $42.77. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 50.62 and a beta of 1.25.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. The company had revenue of $274.05 million during the quarter, compared to the consensus estimate of $273.77 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. Worthington Enterprises's revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share.

Worthington Enterprises Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.62%. Worthington Enterprises's dividend payout ratio (DPR) is presently 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.