Y Intercept Hong Kong Ltd Cuts Stock Position in Worthington Enterprises, Inc. $WOR

Y Intercept Hong Kong Ltd cut its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 61.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,896 shares of the industrial products company’s stock after selling 12,744 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Worthington Enterprises were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. American Century Companies Inc. raised its stake in Worthington Enterprises by 23.0% during the 2nd quarter. American Century Companies Inc. now owns 1,010,730 shares of the industrial products company’s stock valued at $64,323,000 after purchasing an additional 188,783 shares during the period. Geode Capital Management LLC grew its holdings in Worthington Enterprises by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 733,238 shares of the industrial products company’s stock valued at $46,670,000 after buying an additional 8,293 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Worthington Enterprises by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 408,990 shares of the industrial products company’s stock valued at $26,028,000 after buying an additional 3,248 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after buying an additional 124,867 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Worthington Enterprises by 377.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 288,222 shares of the industrial products company’s stock worth $18,342,000 after acquiring an additional 227,792 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WOR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, January 21st. Canaccord Genuity Group reduced their target price on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Finally, Wall Street Zen upgraded Worthington Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.00.

Worthington Enterprises Stock Performance

Worthington Enterprises stock opened at $57.71 on Thursday. The company’s 50-day moving average price is $54.13 and its 200-day moving average price is $57.71. Worthington Enterprises, Inc. has a twelve month low of $39.05 and a twelve month high of $70.91. The company has a quick ratio of 2.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.86 billion, a PE ratio of 27.22 and a beta of 1.35.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, December 16th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. The business had revenue of $327.45 million during the quarter, compared to the consensus estimate of $310.60 million. During the same period in the previous year, the business posted $0.60 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.3%. Worthington Enterprises’s payout ratio is 35.85%.

Worthington Enterprises 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.