Allspring Global Investments Holdings LLC Grows Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Allspring Global Investments Holdings LLC raised its position in Worthington Enterprises, Inc. (NYSE:WOR) by 36.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,907 shares of the industrial products company’s stock after purchasing an additional 16,403 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of Worthington Enterprises worth $3,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WOR. Pinkerton Retirement Specialists LLC purchased a new position in shares of Worthington Enterprises during the 4th quarter worth about $1,281,000. TIAA Trust National Association lifted its holdings in shares of Worthington Enterprises by 10.1% during the 4th quarter. TIAA Trust National Association now owns 29,316 shares of the industrial products company’s stock worth $1,687,000 after acquiring an additional 2,681 shares during the period. AlphaMark Advisors LLC purchased a new position in shares of Worthington Enterprises during the 4th quarter worth about $233,000. State of Alaska Department of Revenue lifted its holdings in shares of Worthington Enterprises by 417.2% during the 4th quarter. State of Alaska Department of Revenue now owns 18,750 shares of the industrial products company’s stock worth $1,079,000 after acquiring an additional 15,125 shares during the period. Finally, Ritholtz Wealth Management lifted its holdings in shares of Worthington Enterprises by 2.2% during the 4th quarter. Ritholtz Wealth Management now owns 11,477 shares of the industrial products company’s stock worth $660,000 after acquiring an additional 251 shares during the period. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Worthington Enterprises

In related news, Director Michael J. Endres sold 66,000 shares of Worthington Enterprises stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $64.26, for a total transaction of $4,241,160.00. Following the sale, the director now owns 76,689 shares of the company’s stock, valued at approximately $4,928,035.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ozey K. Horton, Jr. sold 1,000 shares of Worthington Enterprises stock in a transaction on Friday, April 5th. The shares were sold at an average price of $61.34, for a total transaction of $61,340.00. Following the sale, the director now owns 40,688 shares of the company’s stock, valued at approximately $2,495,801.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Endres sold 66,000 shares of Worthington Enterprises stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $64.26, for a total transaction of $4,241,160.00. Following the sale, the director now directly owns 76,689 shares in the company, valued at approximately $4,928,035.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,000 shares of company stock worth $4,364,750. 38.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Worthington Enterprises from $56.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, March 25th. StockNews.com cut shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their price objective on shares of Worthington Enterprises from $50.00 to $56.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. Finally, Canaccord Genuity Group initiated coverage on shares of Worthington Enterprises in a research note on Tuesday, January 30th. They issued a “hold” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.00.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $57.35 on Friday. The company has a current ratio of 3.42, a quick ratio of 2.47 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 10.48 and a beta of 1.39. The firm’s fifty day simple moving average is $61.55 and its 200 day simple moving average is $59.90. Worthington Enterprises, Inc. has a twelve month low of $33.96 and a twelve month high of $69.96.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Wednesday, March 20th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.44). The business had revenue of $316.76 million for the quarter, compared to analyst estimates of $326.70 million. Worthington Enterprises had a net margin of 7.12% and a return on equity of 19.40%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.04 EPS.

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.