Geode Capital Management LLC Has $33.74 Million Stock Position in Worthington Enterprises, Inc. (NYSE:WOR)

Geode Capital Management LLC lifted its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 3.3% during the third quarter, Holdings Channel.com reports. The firm owned 813,828 shares of the industrial products company’s stock after acquiring an additional 25,824 shares during the quarter. Geode Capital Management LLC’s holdings in Worthington Enterprises were worth $33,739,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. KBC Group NV raised its position in Worthington Enterprises by 45.1% during 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 during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Worthington Enterprises in the second quarter valued at about $57,000. nVerses Capital LLC bought a new position in shares of Worthington Enterprises during the third quarter worth about $83,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Worthington Enterprises in the third quarter worth approximately $85,000. Finally, Point72 DIFC Ltd bought a new stake in Worthington Enterprises in the third quarter valued at approximately $110,000. Institutional investors own 51.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price target 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. Canaccord Genuity Group dropped their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th.

Worthington Enterprises Stock Performance

Shares of WOR stock opened at $41.11 on Thursday. The firm has a 50 day moving average of $40.41 and a 200-day moving average of $43.92. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 54.09 and a beta of 1.26. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. Worthington Enterprises, Inc. has a 52 week low of $37.88 and a 52 week high of $69.96.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results 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. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business had revenue of $274.05 million during the quarter, compared to analysts’ expectations of $273.77 million. During the same period last year, the company posted $0.78 earnings per share. The business’s quarterly revenue was down 8.1% on a year-over-year basis.

Worthington Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.65%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 81.93%.

Insiders Place Their Bets

In other news, CFO Joseph B. Hayek bought 2,500 shares of the stock in a transaction dated Friday, October 11th. The shares were bought at an average cost of $40.21 per share, with a total value of $100,525.00. Following the completion of the transaction, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 37.50% of the company’s stock.

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.