Louisiana State Employees Retirement System Makes New $720,000 Investment in Worthington Enterprises, Inc. $WOR

Louisiana State Employees Retirement System bought a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,800 shares of the industrial products company’s stock, valued at approximately $720,000.

Several other large investors also recently made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its stake in shares of Worthington Enterprises by 823.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 757 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 675 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Worthington Enterprises by 21.3% in the fourth quarter. Corient Private Wealth LLC now owns 12,190 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 2,138 shares during the period. Mariner Investment Group LLC bought a new position in shares of Worthington Enterprises in the fourth quarter valued at approximately $216,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Worthington Enterprises in the fourth quarter worth $240,000. Finally, Summit Global Investments acquired a new stake in shares of Worthington Enterprises in the fourth quarter worth $963,000. Institutional investors own 51.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WOR. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Monday, April 20th. Wall Street Zen cut shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. 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 research report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Worthington Enterprises Stock Performance

Shares of NYSE:WOR traded down $0.63 on Tuesday, hitting $53.94. 3,977 shares of the company were exchanged, compared to its average volume of 214,298. 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’s 50 day moving average price is $56.33 and its two-hundred day moving average price is $54.52. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year high of $67.80. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 17.18 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The firm had revenue of $371.46 million during 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%. Worthington Enterprises’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.5%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s payout ratio is presently 25.48%.

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.