De Lisle Partners LLP Makes New $4.75 Million Investment in Worthington Enterprises, Inc. $WOR

De Lisle Partners LLP purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 88,339 shares of the industrial products company’s stock, valued at approximately $4,748,000. De Lisle Partners LLP owned about 0.18% of Worthington Enterprises at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WOR. Jupiter Asset Management Ltd. purchased a new position in shares of Worthington Enterprises during the 4th quarter valued at about $1,014,000. VELA Investment Management LLC increased its holdings in Worthington Enterprises by 103.0% in the 4th quarter. VELA Investment Management LLC now owns 78,306 shares of the industrial products company’s stock worth $4,038,000 after acquiring an additional 39,725 shares in the last quarter. M&T Bank Corp increased its holdings in Worthington Enterprises by 233.4% in the 4th quarter. M&T Bank Corp now owns 32,561 shares of the industrial products company’s stock worth $1,679,000 after acquiring an additional 22,795 shares in the last quarter. Keybank National Association OH bought a new stake in Worthington Enterprises during the 4th quarter worth approximately $10,749,000. Finally, Summit Global Investments bought a new stake in Worthington Enterprises during the 2nd quarter worth approximately $969,000. Institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

WOR has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research 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 lowered their target price on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Worthington Enterprises currently has an average rating of “Moderate Buy” and a consensus price target of $65.50.

Insider Activity

In other news, major shareholder John P/Oh Mcconnell sold 17,625 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total value of $934,830.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $56.86 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. Worthington Enterprises, Inc. has a 12-month low of $45.01 and a 12-month high of $67.80. The stock has a 50-day moving average price of $56.56 and a 200 day moving average price of $55.25. The stock has a market capitalization of $2.78 billion, a P/E ratio of 18.11 and a beta of 1.28.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The business had revenue of $371.46 million for the quarter, compared to the consensus estimate of $386.49 million. During the same period last year, the business posted $1.06 EPS. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. Equities research analysts forecast that Worthington Enterprises, Inc. will post 3.85 EPS 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. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. 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 annualized dividend and a dividend yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is 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.