Algert Global LLC bought a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 68,590 shares of the industrial products company's stock, valued at approximately $3,687,000. Algert Global LLC owned 0.14% of Worthington Enterprises as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP lifted its position in Worthington Enterprises by 872.0% in the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company's stock worth $25,000 after purchasing an additional 436 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Worthington Enterprises during the 1st quarter valued at about $25,000. McMillan Office Inc. bought a new stake in Worthington Enterprises in the fourth quarter valued at about $31,000. EverSource Wealth Advisors LLC raised its position in Worthington Enterprises by 693.6% in the second quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company's stock worth $39,000 after purchasing an additional 541 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Worthington Enterprises by 81.3% in the fourth quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company's stock worth $35,000 after purchasing an additional 304 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Worthington Enterprises
In other news, major shareholder John P/Oh Mcconnell sold 41,704 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $55.85, for a total value of $2,329,168.40. Following the sale, the insider directly owned 1,335,648 shares of the company's stock, valued at $74,595,940.80. This represents a 3.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company's stock.
Worthington Enterprises Trading Down 0.6%
NYSE:WOR opened at $57.47 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $67.21. The firm has a fifty day simple moving average of $56.33 and a two-hundred day simple moving average of $55.25. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 18.30 and a beta of 1.28.
Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The company had revenue of $371.46 million for the quarter, compared to analyst estimates of $386.49 million. During the same quarter last year, the firm posted $1.06 EPS. Worthington Enterprises's revenue for the quarter was up 16.9% on a year-over-year basis. Analysts expect that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.
Worthington Enterprises Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.20 per share. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 15th. Worthington Enterprises's dividend payout ratio is currently 24.20%.
Analyst Ratings Changes
WOR has been the topic of several recent analyst reports. Wall Street Zen downgraded Worthington Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Canaccord Genuity Group cut their price target on Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, June 25th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Worthington Enterprises in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $65.50.
View Our Latest Analysis on Worthington Enterprises
Worthington Enterprises Company Profile
(
Free Report)
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.
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