NFJ Investment Group LLC Buys 69,474 Shares of Worthington Enterprises, Inc. $WOR

NFJ Investment Group LLC boosted its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 264.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,713 shares of the industrial products company’s stock after acquiring an additional 69,474 shares during the quarter. NFJ Investment Group LLC owned about 0.19% of Worthington Enterprises worth $4,936,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Worthington Enterprises by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,753,434 shares of the industrial products company’s stock valued at $208,278,000 after buying an additional 15,894 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Worthington Enterprises by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 768,013 shares of the industrial products company’s stock valued at $39,613,000 after buying an additional 4,745 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Worthington Enterprises by 67.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company’s stock valued at $26,721,000 after buying an additional 193,319 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Worthington Enterprises by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 436,731 shares of the industrial products company’s stock valued at $22,522,000 after buying an additional 93,140 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Worthington Enterprises by 54.9% during the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock valued at $17,656,000 after buying an additional 124,867 shares during the last quarter. 51.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WOR. Wall Street Zen raised Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Monday, April 20th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $69.00 target price on shares of Worthington Enterprises in a research note on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.00.

Worthington Enterprises Stock Up 1.8%

Shares of NYSE:WOR opened at $59.81 on Friday. Worthington Enterprises, Inc. has a 52-week low of $45.01 and a 52-week high of $70.91. The stock has a market cap of $2.95 billion, a P/E ratio of 26.58 and a beta of 1.28. The business’s 50 day moving average is $55.30 and its 200 day moving average is $54.37. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.31.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.03. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.The company had revenue of $378.68 million for the quarter, compared to analysts’ expectations of $349.41 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Worthington Enterprises’s revenue was up 24.4% compared to the same quarter last year. Sell-side analysts predict that Worthington Enterprises, Inc. will post 3.41 EPS for the current year.

Worthington Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 1.3%. Worthington Enterprises’s dividend payout ratio is 33.78%.

Worthington Enterprises Company Profile

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.