Park National Corp OH Grows Stake in Worthington Enterprises, Inc. $WOR

Park National Corp OH lifted its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,382 shares of the industrial products company’s stock after purchasing an additional 365 shares during the period. Park National Corp OH’s holdings in Worthington Enterprises were worth $724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of Worthington Enterprises by 24.1% during the first quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company’s stock worth $41,171,000 after purchasing an additional 159,798 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Worthington Enterprises by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 540,040 shares of the industrial products company’s stock valued at $27,051,000 after acquiring an additional 6,764 shares in the last quarter. Millennium Management LLC grew its stake in Worthington Enterprises by 54.9% during the 1st quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock valued at $17,656,000 after acquiring an additional 124,867 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Worthington Enterprises during the 1st quarter valued at about $11,769,000. Finally, Goldman Sachs Group Inc. grew its stake in Worthington Enterprises by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock valued at $11,143,000 after acquiring an additional 7,575 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $63.86 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 2.62. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 33.44 and a beta of 1.20. The company’s 50-day moving average is $64.01 and its two-hundred day moving average is $56.49. Worthington Enterprises, Inc. has a 1-year low of $37.88 and a 1-year high of $70.91.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.22. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The company had revenue of $317.88 million for the quarter, compared to analyst estimates of $300.96 million. During the same period in the previous year, the business posted $0.74 EPS. Worthington Enterprises’s revenue was down .3% on a year-over-year basis. Analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.19 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.17. Worthington Enterprises’s dividend payout ratio (DPR) is currently 35.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WOR. Wall Street Zen raised shares of Worthington Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 24th. Canaccord Genuity Group upped their price objective on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. The Goldman Sachs Group upped their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, June 26th. Finally, Zacks Research cut shares of Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.00.

About Worthington Enterprises

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.