Worthington Enterprises, Inc. $WOR Shares Bought by M&T Bank Corp

Key Points

• M&T Bank Corp boosted its stake in Worthington Enterprises by 233.4% in Q4 to 32,561 shares, worth about $1.68 million (roughly 0.07% of the company).
• Analysts have a consensus rating of "Hold" with a $61.00 price target, based on two Buy, two Hold and one Sell ratings.
• Worthington recently beat quarterly estimates with $0.98 EPS vs. $0.95 expected and revenue of $378.7M (up 24.4% y/y), and announced a quarterly dividend of $0.19 (annualized $0.76, ~1.4% yield).

M&T Bank Corp boosted its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 233.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 32,561 shares of the industrial products company's stock after acquiring an additional 22,795 shares during the period. M&T Bank Corp owned about 0.07% of Worthington Enterprises worth $1,679,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB acquired a new position in Worthington Enterprises during the fourth quarter worth $2,914,000. Essex Investment Management Co. LLC acquired a new position in Worthington Enterprises during the third quarter worth $3,059,000. Fisher Asset Management LLC raised its position in Worthington Enterprises by 19.4% during the third quarter. Fisher Asset Management LLC now owns 343,591 shares of the industrial products company's stock worth $19,066,000 after acquiring an additional 55,917 shares during the period. SG Americas Securities LLC raised its position in Worthington Enterprises by 114.5% during the fourth quarter. SG Americas Securities LLC now owns 27,291 shares of the industrial products company's stock worth $1,407,000 after acquiring an additional 14,566 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Worthington Enterprises by 1,203.3% during the third quarter. Teacher Retirement System of Texas now owns 64,253 shares of the industrial products company's stock worth $3,565,000 after acquiring an additional 59,323 shares during the period. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Worthington Enterprises Price Performance

Shares of NYSE WOR opened at $55.68 on Wednesday. The firm has a 50-day simple moving average of $52.86 and a 200-day simple moving average of $54.28. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 24.75 and a beta of 1.32. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.31. Worthington Enterprises, Inc. has a 52 week low of $45.01 and a 52 week high of $70.91.

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

Worthington Enterprises Announces Dividend

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

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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