Windsor Advisory Group LLC Boosts Stake in Worthington Enterprises, Inc. $WOR

Key Points

• Windsor Advisory Group increased its stake in Worthington Enterprises by 23.5% in the first quarter, making WOR its largest holding at 20% of the portfolio.
• Worthington Enterprises recently reported mixed quarterly results, missing both EPS and revenue estimates even though revenue rose 16.9% year over year.
• The company also raised its quarterly dividend to $0.20 per share, and analysts currently view the stock as a Moderate Buy with an average price target of $65.50.

Windsor Advisory Group LLC increased its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 23.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 459,633 shares of the industrial products company's stock after purchasing an additional 87,351 shares during the period. Worthington Enterprises accounts for 20.0% of Windsor Advisory Group LLC's holdings, making the stock its biggest holding. Windsor Advisory Group LLC owned 0.93% of Worthington Enterprises worth $23,965,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Worthington Enterprises by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 768,013 shares of the industrial products company's stock worth $39,613,000 after buying an additional 4,745 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in 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 worth $26,721,000 after buying an additional 193,319 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new position in Worthington Enterprises during the 1st quarter valued at about $23,824,000. Fisher Asset Management LLC grew its stake in shares of Worthington Enterprises by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 436,731 shares of the industrial products company's stock valued at $22,522,000 after buying an additional 93,140 shares during the last quarter. Finally, Millennium Management LLC grew its position in Worthington Enterprises by 54.9% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. 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 objective on Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Finally, Weiss Ratings reissued 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 two have assigned a Hold rating to the stock. According to data from MarketBeat, Worthington Enterprises presently has a consensus rating of "Moderate Buy" and an average target price of $65.50.

Worthington Enterprises Price Performance

WOR stock opened at $56.00 on Friday. Worthington Enterprises, Inc. has a 1 year low of $45.01 and a 1 year high of $67.80. The firm has a market capitalization of $2.76 billion, a PE ratio of 17.83 and a beta of 1.29. The business has a 50 day simple moving average of $56.28 and a 200-day simple moving average of $54.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). The company had revenue of $371.46 million for the quarter, compared to analysts' expectations of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The firm's revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. Equities research analysts anticipate that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. Worthington Enterprises's dividend payout ratio is currently 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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