Worthington Enterprises, Inc. (NYSE:WOR) Holdings Boosted by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in Worthington Enterprises, Inc. (NYSE:WOR) by 7.5% in the third quarter, Holdings Channel.com reports. The firm owned 18,604 shares of the industrial products company’s stock after purchasing an additional 1,293 shares during the period. Franklin Resources Inc.’s holdings in Worthington Enterprises were worth $751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV raised 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 buying an additional 353 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Worthington Enterprises in the 2nd quarter valued at about $57,000. nVerses Capital LLC purchased a new stake in shares of Worthington Enterprises in the third quarter worth approximately $83,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Worthington Enterprises in the third quarter worth approximately $85,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Worthington Enterprises during the third quarter worth approximately $110,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Insider Transactions at Worthington Enterprises

In related news, CFO Joseph B. Hayek bought 2,500 shares of Worthington Enterprises stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the acquisition, the chief financial officer now owns 168,875 shares in the company, 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 is accessible through the SEC website. 37.50% of the stock is currently owned by corporate insiders.

Worthington Enterprises Price Performance

Shares of WOR opened at $40.67 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. The firm has a market cap of $2.04 billion, a PE ratio of 53.51 and a beta of 1.26. Worthington Enterprises, Inc. has a twelve month low of $37.88 and a twelve month high of $69.96. The firm’s 50 day moving average price is $40.39 and its 200 day moving average price is $43.68.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $274.05 million for the quarter, compared to the consensus estimate of $273.77 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. Worthington Enterprises’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS.

Worthington Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.67%. Worthington Enterprises’s dividend payout ratio is currently 81.93%.

Analyst Ratings Changes

WOR has been the topic of several research reports. Canaccord Genuity Group upped their price objective on shares of Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Canaccord Genuity Group cut their price objective on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Finally, StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th.

Worthington Enterprises 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.