Fort Washington Investment Advisors Inc. OH Buys Shares of 456,925 Worthington Enterprises, Inc. $WOR

Fort Washington Investment Advisors Inc. OH bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR) during the first quarter, Holdings Channel reports. The institutional investor bought 456,925 shares of the industrial products company’s stock, valued at approximately $23,824,000.

Other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in shares of Worthington Enterprises during the first quarter worth approximately $720,000. Rockefeller Capital Management L.P. increased its stake in 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 buying an additional 675 shares during the period. Corient Private Wealth LLC increased its stake in Worthington Enterprises by 21.3% in the 4th quarter. Corient Private Wealth LLC now owns 12,190 shares of the industrial products company’s stock valued at $629,000 after buying an additional 2,138 shares during the period. Mariner Investment Group LLC purchased a new stake in Worthington Enterprises in the 4th quarter worth approximately $216,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Worthington Enterprises in the 4th quarter worth approximately $240,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

Worthington Enterprises Price Performance

NYSE WOR opened at $56.23 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43. The firm has a market cap of $2.77 billion, a P/E ratio of 17.91 and a beta of 1.28. The stock’s 50-day moving average is $56.35 and its two-hundred day moving average is $54.65. Worthington Enterprises, Inc. has a fifty-two week low of $45.01 and a fifty-two week high of $67.80.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The firm’s revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 earnings per share. On average, analysts anticipate that Worthington Enterprises, Inc. will post 3.92 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, September 15th. This is a positive change 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%. Worthington Enterprises’s dividend payout ratio is presently 24.20%.

Analyst Ratings Changes

WOR has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Monday, April 20th. Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday. 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 research report on Thursday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Worthington Enterprises currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

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.