Elo Mutual Pension Insurance Co Invests $845,000 in Worthington Enterprises, Inc. $WOR

Elo Mutual Pension Insurance Co acquired a new stake in Worthington Enterprises, Inc. (NYSE:WOR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,222 shares of the industrial products company’s stock, valued at approximately $845,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WOR. Teacher Retirement System of Texas raised its stake in Worthington Enterprises by 3.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,930 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 173 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Worthington Enterprises by 61.0% during the 3rd 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 last quarter. Fifth Third Bancorp boosted its stake in shares of Worthington Enterprises by 2.0% during the 3rd quarter. Fifth Third Bancorp now owns 13,557 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 267 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Worthington Enterprises by 1.7% during the third quarter. Illinois Municipal Retirement Fund now owns 16,463 shares of the industrial products company’s stock worth $914,000 after buying an additional 279 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its holdings in shares of Worthington Enterprises by 6.7% during the third quarter. Daymark Wealth Partners LLC now owns 4,800 shares of the industrial products company’s stock worth $266,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analysts Set New Price Targets

WOR has been the subject of several recent analyst reports. Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Canaccord Genuity Group reduced 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.00.

Worthington Enterprises Price Performance

Shares of NYSE WOR opened at $51.06 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.26. Worthington Enterprises, Inc. has a 1-year low of $39.05 and a 1-year high of $70.91. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 24.08 and a beta of 1.32. The business has a 50-day moving average of $54.89 and a 200-day moving average of $56.76.

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

Worthington Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 13th. Worthington Enterprises’s payout ratio is presently 35.85%.

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.