Keybank National Association OH Acquires Shares of 208,433 Worthington Enterprises, Inc. $WOR

Key Points

• Keybank National Association OH acquired a new stake of 208,433 shares of Worthington Enterprises (NYSE:WOR), worth about $10.75 million, representing roughly 0.42% of the company at quarter-end.
• Worthington beat Q results with EPS of $0.98 vs. $0.95 expected and revenue of $378.7M (up 24.4% year-over-year), while the stock trades near $53.91 with a market cap of about $2.66B.
• The company declared a quarterly dividend of $0.19 (annualized $0.76, yield ~1.4%, ex-dividend June 15), and analysts hold a consensus “Hold” rating with an average price target of $61.00.

Keybank National Association OH acquired a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 208,433 shares of the industrial products company's stock, valued at approximately $10,749,000. Keybank National Association OH owned 0.42% of Worthington Enterprises at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WOR. Windsor Advisory Group LLC bought a new position in shares of Worthington Enterprises during the third quarter valued at approximately $16,319,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Worthington Enterprises by 67.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company's stock valued at $26,721,000 after acquiring an additional 193,319 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Worthington Enterprises by 54.9% during the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock valued at $17,656,000 after acquiring an additional 124,867 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Worthington Enterprises during the third quarter valued at approximately $6,438,000. Finally, Invesco Ltd. raised its holdings in shares of Worthington Enterprises by 72.7% during the third quarter. Invesco Ltd. now owns 272,619 shares of the industrial products company's stock valued at $15,128,000 after acquiring an additional 114,779 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Trading Down 3.2%

Worthington Enterprises stock opened at $53.91 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.31. The business's fifty day simple moving average is $52.80 and its two-hundred day simple moving average is $54.28. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $70.91. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 23.96 and a beta of 1.32.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.03. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.The firm had revenue of $378.68 million during the quarter, compared to analysts' expectations of $349.41 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company's revenue was up 24.4% on a year-over-year basis. As a group, equities analysts predict that Worthington Enterprises, Inc. will post 3.41 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $0.19 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. Worthington Enterprises's payout ratio is currently 33.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WOR. Wall Street Zen downgraded Worthington Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Canaccord Genuity Group restated a "buy" rating and set a $69.00 target price on shares of Worthington Enterprises in a report on Thursday, March 26th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Worthington Enterprises in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $61.00.

About Worthington Enterprises

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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