Algert Global LLC Acquires New Stake in Worthington Enterprises, Inc. $WOR

Algert Global LLC purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the second quarter, HoldingsChannel.com reports. The fund purchased 68,590 shares of the industrial products company’s stock, valued at approximately $3,687,000.

Other large investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its stake in shares of Worthington Enterprises by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 6,114 shares of the industrial products company’s stock worth $315,000 after buying an additional 189 shares in the last quarter. Parallel Advisors LLC lifted its position in Worthington Enterprises by 57.3% in the first quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 263 shares during the last quarter. Sei Investments Co. raised its position in Worthington Enterprises by 6.1% in the 1st quarter. Sei Investments Co. now owns 4,601 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 264 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Worthington Enterprises by 81.3% in the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock valued at $35,000 after buying an additional 304 shares during the period. Finally, Amplify Investments LLC lifted its stake in shares of Worthington Enterprises by 21.4% in the 4th quarter. Amplify Investments LLC now owns 1,802 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 318 shares during the period. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Worthington Enterprises Price Performance

NYSE WOR opened at $57.47 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 1 year low of $45.01 and a 1 year high of $67.21. The company has a market cap of $2.81 billion, a PE ratio of 18.30 and a beta of 1.28. The stock’s 50-day moving average price is $56.33 and its two-hundred day moving average price is $55.25.

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

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.20 per share. This is an increase 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 yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 24.20%.

Insider Activity

In other Worthington Enterprises 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 transaction, the insider owned 1,335,648 shares in the company, valued at $70,842,769.92. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.50% of the stock is owned by insiders.

Worthington Enterprises 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.