Windsor Advisory Group LLC Makes New Investment in Worthington Enterprises, Inc. $WOR

Windsor Advisory Group LLC purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 389,601 shares of the industrial products company’s stock, valued at approximately $20,945,000. Worthington Enterprises accounts for 15.2% of Windsor Advisory Group LLC’s investment portfolio, making the stock its largest position.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Worthington Enterprises by 4.5% in the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 554 shares during the period. AQR Capital Management LLC acquired a new position in Worthington Enterprises during the first quarter worth about $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Worthington Enterprises by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock worth $937,000 after buying an additional 793 shares during the period. Millennium Management LLC increased its holdings in Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock valued at $17,656,000 after buying an additional 124,867 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Worthington Enterprises by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock valued at $11,143,000 after buying an additional 7,575 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

WOR has been the topic of several research analyst reports. Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Finally, Canaccord Genuity Group reduced 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 investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $57.98 on Thursday. Worthington Enterprises, Inc. has a 52 week low of $45.01 and a 52 week high of $67.80. The company has a quick ratio of 1.43, a current ratio of 2.37 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $56.43 and its 200 day simple moving average is $55.25. The firm has a market capitalization of $2.84 billion, a PE ratio of 18.46 and a beta of 1.28.

Worthington Enterprises (NYSE:WOR) last posted 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 quarter last year, the business posted $1.06 earnings per share. The business’s revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts predict that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $0.20 dividend. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 15th. Worthington Enterprises’s dividend payout ratio (DPR) is currently 24.20%.

Insider Buying and Selling at Worthington Enterprises

In other news, major shareholder John P/Oh Mcconnell sold 41,704 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $55.85, for a total transaction of $2,329,168.40. Following the completion of the transaction, the insider directly owned 1,335,648 shares of the company’s stock, valued at $74,595,940.80. This trade represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by company 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.