Hsbc Holdings PLC Acquires New Holdings in Worthington Enterprises, Inc. $WOR

Hsbc Holdings PLC bought a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 20,855 shares of the industrial products company’s stock, valued at approximately $1,115,000.

A number of other institutional investors have also recently added to or reduced their stakes in WOR. BlackRock Inc. acquired a new position in Worthington Enterprises in the 2nd quarter valued at approximately $283,372,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Worthington Enterprises during the first quarter worth $23,824,000. Bank of New York Mellon Corp acquired a new position in shares of Worthington Enterprises during the second quarter worth $18,376,000. Windsor Advisory Group LLC acquired a new position in shares of Worthington Enterprises during the third quarter worth $16,319,000. Finally, LSV Asset Management bought a new stake in shares of Worthington Enterprises in the fourth quarter worth $10,684,000. 51.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WOR. Canaccord Genuity Group decreased their price objective on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Finally, Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Worthington Enterprises Stock Up 0.3%

Worthington Enterprises stock opened at $57.47 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 2.37 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 $67.21. The firm’s fifty day moving average is $56.25 and its 200 day moving average is $55.23. The company has a market capitalization of $2.81 billion, a PE ratio of 18.30 and a beta of 1.28.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $371.46 million during the quarter, compared to analyst estimates of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. As a group, sell-side analysts predict that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s dividend payout ratio (DPR) is 24.20%.

Insider Activity at Worthington Enterprises

In related news, major shareholder John P/Oh Mcconnell sold 17,625 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total value of $934,830.00. Following the completion of the sale, the insider directly owned 1,335,648 shares of the company’s stock, valued at $70,842,769.92. The trade was a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is currently owned by corporate insiders.

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.