Capital International Investors Reduces Stock Position in Worthington Enterprises, Inc. $WOR

Key Points

• Institutional stake change: Capital International Investors cut its Worthington Enterprises position by 8.9% in Q3, selling 40,848 shares and now holds 416,654 shares (about 0.84% of the company) valued at $23.12 million.
• Market and analyst view: Analysts have a consensus "Hold" with a $61 target (2 Buys, 2 Holds, 1 Sell); the company missed Q3 EPS ($0.65 vs. $0.71) while revenue beat and rose 19.5%, the stock trades below its 12‑month high with a $2.33B market cap, and management announced a $0.19 quarterly dividend (1.6% yield).

Capital International Investors reduced its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 416,654 shares of the industrial products company's stock after selling 40,848 shares during the quarter. Capital International Investors owned about 0.84% of Worthington Enterprises worth $23,120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hantz Financial Services Inc. boosted its stake in shares of Worthington Enterprises by 61.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 525 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 199 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 buying an additional 541 shares in the last quarter. Amplify Investments LLC raised its stake in Worthington Enterprises by 27.7% in the third quarter. Amplify Investments LLC now owns 1,484 shares of the industrial products company's stock worth $82,000 after buying an additional 322 shares in the last quarter. Caldwell Trust Co purchased a new stake in Worthington Enterprises in the second quarter worth about $112,000. Finally, CWM LLC boosted its position in Worthington Enterprises by 149.2% during the 3rd quarter. CWM LLC now owns 2,026 shares of the industrial products company's stock valued at $112,000 after acquiring an additional 1,213 shares in the last quarter. Institutional investors own 51.59% of the company's stock.

Wall Street Analysts Forecast Growth

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

Worthington Enterprises Trading Down 4.8%

NYSE:WOR opened at $46.98 on Friday. The company has a market cap of $2.33 billion, a PE ratio of 22.16 and a beta of 1.32. The company has a current ratio of 3.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $54.67 and a two-hundred day simple moving average of $56.31. Worthington Enterprises, Inc. has a 12 month low of $39.05 and a 12 month high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, December 16th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $327.45 million for the quarter, compared to analysts' expectations of $310.60 million. Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. Worthington Enterprises's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. Research analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current 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 given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.6%. Worthington Enterprises's payout ratio is currently 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.

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