Inceptionr LLC Makes New Investment in Worthington Enterprises, Inc. (NYSE:WOR)

Inceptionr LLC purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,847 shares of the industrial products company’s stock, valued at approximately $355,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV raised its holdings in shares of Worthington Enterprises by 45.1% in the 3rd 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Worthington Enterprises in the 3rd quarter worth approximately $85,000. Point72 DIFC Ltd bought a new stake in shares of Worthington Enterprises in the 3rd quarter worth approximately $110,000. Point72 Hong Kong Ltd bought a new stake in shares of Worthington Enterprises in the 3rd quarter worth approximately $124,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Worthington Enterprises in the 3rd quarter worth approximately $199,000. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Performance

Worthington Enterprises stock opened at $42.14 on Friday. The firm’s 50 day simple moving average is $41.60 and its 200-day simple moving average is $41.67. The company has a market cap of $2.11 billion, a P/E ratio of 50.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.56 and a quick ratio of 2.50. Worthington Enterprises, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $69.96.

Worthington Enterprises (NYSE:WOR) 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 firm had revenue of $274.05 million for the quarter, compared to the consensus estimate of $273.77 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue was down 8.1% on a year-over-year basis. As a group, equities research analysts predict 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. Investors of record on Friday, March 14th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, March 14th. Worthington Enterprises’s payout ratio is presently 81.93%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WOR shares. Canaccord Genuity Group boosted their target price on shares of Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Seaport Res Ptn raised shares of Worthington Enterprises to a “strong-buy” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.00.

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.