Hsbc Holdings PLC Takes $1.11 Million Position in Worthington Enterprises, Inc. $WOR

Hsbc Holdings PLC bought a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,855 shares of the industrial products company's stock, valued at approximately $1,115,000.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Worthington Enterprises during the second quarter worth about $283,372,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Worthington Enterprises during the first quarter worth about $23,824,000. Bank of New York Mellon Corp bought a new position in Worthington Enterprises in the 2nd quarter valued at about $18,376,000. Windsor Advisory Group LLC acquired a new position in shares of Worthington Enterprises in the 3rd quarter valued at approximately $16,319,000. Finally, LSV Asset Management acquired a new position in shares of Worthington Enterprises in the 4th quarter valued at approximately $10,684,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Worthington Enterprises news, major shareholder John P/Oh Mcconnell sold 17,625 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total value of $934,830.00. Following the completion of the transaction, the insider owned 1,335,648 shares of the company's stock, valued at $70,842,769.92. This represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WOR. Wall Street Zen downgraded shares of Worthington Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Finally, Canaccord Genuity Group lowered their price objective on shares of Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Worthington Enterprises has a consensus rating of "Moderate Buy" and an average price target of $65.50.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $57.47 on Tuesday. Worthington Enterprises, Inc. has a fifty-two week low of $45.01 and a fifty-two week high of $67.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43. The firm has a market capitalization of $2.81 billion, a P/E ratio of 18.30 and a beta of 1.28. The company's 50 day moving average price is $56.25 and its two-hundred day moving average price is $55.23.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07). Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.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 company posted $1.06 earnings per share. The firm's quarterly revenue was up 16.9% on a year-over-year basis. On average, equities analysts forecast that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.19. Worthington Enterprises's dividend payout ratio is presently 24.20%.

Worthington Enterprises Company 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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