Windsor Advisory Group LLC Takes Position in Worthington Enterprises, Inc. $WOR

Key Points

• Windsor Advisory Group acquired 389,601 Worthington Enterprises shares worth approximately $20.9 million, making WOR its largest holding and representing about 0.8% of the company.
• Worthington Enterprises reported quarterly EPS of $0.97, below the $1.04 consensus estimate, while revenue rose 16.9% year over year to $371.46 million. Analysts maintain a “Moderate Buy” consensus with a $65.50 price target.
• The company raised its quarterly dividend from $0.19 to $0.20 per share, equivalent to an annualized $0.80 payout and a 1.4% yield.

Windsor Advisory Group LLC bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 389,601 shares of the industrial products company's stock, valued at approximately $20,945,000. Worthington Enterprises comprises about 15.2% of Windsor Advisory Group LLC's holdings, making the stock its largest position. Windsor Advisory Group LLC owned approximately 0.80% of Worthington Enterprises at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new position in shares of Worthington Enterprises during the second quarter worth about $780,000. Hsbc Holdings PLC acquired a new stake in shares of Worthington Enterprises in the 2nd quarter valued at about $1,115,000. Canada Pension Plan Investment Board purchased a new position in Worthington Enterprises during the 2nd quarter worth approximately $355,000. Legal & General Group Plc purchased a new position in Worthington Enterprises during the 2nd quarter worth approximately $3,956,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Worthington Enterprises during the second quarter worth approximately $867,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Performance

Shares of WOR stock opened at $57.98 on Thursday. The stock has a market capitalization of $2.84 billion, a PE ratio of 18.46 and a beta of 1.28. The company has a quick ratio of 1.43, a current ratio of 2.37 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average price is $56.43 and its 200 day moving average price is $55.25. Worthington Enterprises, Inc. has a 52-week low of $45.01 and a 52-week high of $67.80.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released 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%.Worthington Enterprises's revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. As a group, equities research analysts forecast that Worthington Enterprises, Inc. will post 3.85 EPS for the current 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 $0.20 dividend. The ex-dividend date is Tuesday, September 15th. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises's payout ratio is 24.20%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Worthington Enterprises news, major shareholder John P/Oh Mcconnell sold 17,625 shares of Worthington Enterprises stock in a transaction that occurred 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 owned 1,335,648 shares of the company's stock, valued at approximately $70,842,769.92. The trade was a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

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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