Legal & General Group Plc bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 73,588 shares of the industrial products company's stock, valued at approximately $3,956,000. Legal & General Group Plc owned approximately 0.15% of Worthington Enterprises as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WOR. Allworth Financial LP boosted its stake in Worthington Enterprises by 872.0% in the 4th 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 bought a new stake in shares of Worthington Enterprises in the first quarter valued at approximately $25,000. McMillan Office Inc. acquired a new stake in Worthington Enterprises during the fourth quarter worth about $31,000. Farther Finance Advisors LLC boosted its holdings in shares of Worthington Enterprises by 81.3% in the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 304 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Worthington Enterprises by 57.3% in the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 263 shares in the last quarter. 51.59% of the stock is owned by institutional investors.
Worthington Enterprises Trading Up 1.9%
Shares of WOR opened at $62.41 on Friday. Worthington Enterprises, Inc. has a 1-year low of $45.01 and a 1-year high of $66.47. 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 company has a market capitalization of $3.05 billion, a P/E ratio of 19.88 and a beta of 1.30. The firm's 50 day simple moving average is $56.44 and its 200 day simple moving average is $55.29.
Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $371.46 million during the quarter, compared to analysts' expectations of $386.49 million. Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. Worthington Enterprises's revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. Sell-side analysts forecast that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current fiscal year.
Worthington Enterprises Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.3%. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, September 15th. Worthington Enterprises's dividend payout ratio (DPR) is 24.20%.
Wall Street Analysts Forecast Growth
WOR has been the topic of several recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Enterprises in a report on Friday, July 17th. Wall Street Zen downgraded Worthington Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Finally, Canaccord Genuity Group lowered their price objective on shares of Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Worthington Enterprises currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.
View Our Latest Report on Worthington Enterprises
Insiders Place Their Bets
In related news, major shareholder John McConnell sold 17,625 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total value of $934,830.00. Following the sale, the insider directly owned 1,335,648 shares of the company's stock, valued at $70,842,769.92. This represents a 1.30% decrease in their ownership of the stock. 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 currently owned by insiders.
About Worthington Enterprises
(
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.
Read More
Want to see what other hedge funds are holding WOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Worthington Enterprises, Inc. (NYSE:WOR - Free Report).
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