Essex Investment Management Co. LLC Takes Position in Worthington Enterprises, Inc. $WOR

Essex Investment Management Co. LLC purchased a new stake in Worthington Enterprises, Inc. (NYSE:WOR) during the third quarter, according to its most recent filing with the SEC. The firm purchased 55,133 shares of the industrial products company’s stock, valued at approximately $3,059,000. Essex Investment Management Co. LLC owned 0.11% of Worthington Enterprises at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in Worthington Enterprises by 61.0% in the third quarter. Hantz Financial Services Inc. now owns 525 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 199 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Worthington Enterprises by 693.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock valued at $39,000 after buying an additional 541 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Worthington Enterprises during the 2nd quarter worth $46,000. CWM LLC raised its stake in Worthington Enterprises by 33.5% during the 2nd quarter. CWM LLC now owns 813 shares of the industrial products company’s stock worth $52,000 after buying an additional 204 shares during the period. Finally, Amplify Investments LLC lifted its holdings in Worthington Enterprises by 27.7% during the third quarter. Amplify Investments LLC now owns 1,484 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 322 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Stock Down 1.0%

Shares of Worthington Enterprises stock opened at $58.53 on Tuesday. The firm has a market cap of $2.90 billion, a PE ratio of 27.61 and a beta of 1.35. The business’s 50 day simple moving average is $54.35 and its 200 day simple moving average is $57.59. 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 52-week low of $39.05 and a 52-week high of $70.91.

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

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. Worthington Enterprises’s payout ratio is 35.85%.

Analyst Upgrades and Downgrades

WOR has been the subject of several recent analyst reports. Canaccord Genuity Group lowered their price target on Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.00.

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.