FORA Capital LLC Makes New $448,000 Investment in Worthington Enterprises, Inc. (NYSE:WOR)

FORA Capital LLC purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,804 shares of the industrial products company’s stock, valued at approximately $448,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV raised its stake 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 worth $47,000 after purchasing an additional 353 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Worthington Enterprises during the 2nd quarter valued at approximately $57,000. nVerses Capital LLC purchased a new position in Worthington Enterprises in the third quarter worth approximately $83,000. Eastern Bank acquired a new stake in Worthington Enterprises during the third quarter worth $121,000. Finally, MQS Management LLC purchased a new stake in Worthington Enterprises in the second quarter valued at $208,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Wall Street Analyst Weigh In

WOR has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a “hold” rating and set a $46.00 price target on shares of Worthington Enterprises in a report on Friday, October 4th. Canaccord Genuity Group lowered their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Finally, StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.00.

Insiders Place Their Bets

In related news, CFO Joseph B. Hayek acquired 2,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the purchase, the chief financial officer now owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This represents a 1.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 37.50% of the company’s stock.

Worthington Enterprises Price Performance

WOR stock opened at $40.63 on Friday. The business’s fifty day moving average price is $40.76 and its 200 day moving average price is $46.12. Worthington Enterprises, Inc. has a 12-month low of $38.24 and a 12-month high of $69.96. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2.04 billion, a PE ratio of 53.46 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The business had revenue of $257.31 million for the quarter, compared to analysts’ expectations of $296.05 million. During the same quarter last year, the company earned $2.06 earnings per share. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.67%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 89.47%.

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.