SG Americas Securities LLC Boosts Stock Position in Worthington Enterprises, Inc. $WOR

SG Americas Securities LLC boosted its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 346.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,725 shares of the industrial products company’s stock after purchasing an additional 9,872 shares during the quarter. SG Americas Securities LLC’s holdings in Worthington Enterprises were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd grew its stake in Worthington Enterprises by 134.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 20,640 shares of the industrial products company’s stock worth $1,314,000 after buying an additional 11,846 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Worthington Enterprises during the second quarter worth approximately $226,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Worthington Enterprises during the second quarter worth approximately $1,826,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Worthington Enterprises by 377.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 288,222 shares of the industrial products company’s stock worth $18,342,000 after acquiring an additional 227,792 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Worthington Enterprises by 97.7% in the 2nd quarter. Prudential Financial Inc. now owns 103,150 shares of the industrial products company’s stock valued at $6,564,000 after purchasing an additional 50,967 shares in the last quarter. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Enterprises Price Performance

Shares of WOR stock opened at $53.78 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.26 and a current ratio of 3.26. Worthington Enterprises, Inc. has a fifty-two week low of $39.05 and a fifty-two week high of $70.91. The firm has a market cap of $2.66 billion, a P/E ratio of 25.37 and a beta of 1.34. The business’s 50 day moving average price is $53.98 and its 200-day moving average price is $58.31.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, December 16th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $327.45 million during the quarter, compared to analysts’ expectations of $310.60 million. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.46%.The business’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. On average, equities research analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. Worthington Enterprises’s payout ratio is presently 35.85%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WOR. CJS Securities raised shares of Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price target for the company in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, October 8th. Wall Street Zen upgraded Worthington Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Canaccord Genuity Group decreased their price target on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Worthington Enterprises presently has an average rating of “Hold” and a consensus price target of $61.00.

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.