Capstone Investment Advisors LLC Acquires New Shares in Worthington Enterprises, Inc. $WOR

Capstone Investment Advisors LLC purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the 2nd quarter, Holdings Channel reports. The fund purchased 10,541 shares of the industrial products company’s stock, valued at approximately $567,000.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Worthington Enterprises by 872.0% in the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 436 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Worthington Enterprises in the 1st quarter worth approximately $25,000. McMillan Office Inc. acquired a new stake in Worthington Enterprises in the 4th quarter valued at approximately $31,000. EverSource Wealth Advisors LLC raised its stake in Worthington Enterprises by 693.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 541 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Worthington Enterprises by 81.3% during the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 304 shares during the period. 51.59% of the stock is currently owned by institutional investors.

Worthington Enterprises Stock Down 0.6%

Shares of NYSE:WOR opened at $57.47 on Friday. The firm has a 50 day simple moving average of $56.33 and a 200 day simple moving average of $55.25. Worthington Enterprises, Inc. has a 52 week low of $45.01 and a 52 week high of $67.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. The company has a market cap of $2.81 billion, a PE ratio of 18.30 and a beta of 1.28.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share 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 analysts’ expectations of $386.49 million. During the same period last year, the firm earned $1.06 EPS. The company’s revenue was up 16.9% compared to the same quarter last year. As a group, research analysts expect that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $0.20 dividend. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Worthington Enterprises’s payout ratio is presently 24.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WOR. Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Finally, Canaccord Genuity Group cut 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. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Insider Activity

In other Worthington Enterprises news, major shareholder John P/Oh Mcconnell sold 17,625 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total transaction of $934,830.00. Following the completion of the sale, the insider owned 1,335,648 shares of the company’s stock, valued at $70,842,769.92. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

About Worthington Enterprises

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.