34,883 Shares in Worthington Enterprises, Inc. $WOR Bought by Lido Advisors LLC

Lido Advisors LLC acquired a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 34,883 shares of the industrial products company’s stock, valued at approximately $2,077,000. Lido Advisors LLC owned 0.07% of Worthington Enterprises at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Keybank National Association OH acquired a new stake in Worthington Enterprises during the 3rd quarter worth approximately $575,000. Allspring Global Investments Holdings LLC acquired a new position in Worthington Enterprises in the 3rd quarter valued at $10,843,000. Parallel Advisors LLC grew its holdings in Worthington Enterprises by 189.6% in the 3rd quarter. Parallel Advisors LLC now owns 4,729 shares of the industrial products company’s stock valued at $282,000 after buying an additional 3,096 shares in the last quarter. Covestor Ltd grew its holdings in Worthington Enterprises by 258.9% in the 3rd quarter. Covestor Ltd now owns 10,315 shares of the industrial products company’s stock valued at $614,000 after buying an additional 7,441 shares in the last quarter. Finally, Verity Asset Management Inc. increased its position in Worthington Enterprises by 2.6% during the 3rd quarter. Verity Asset Management Inc. now owns 18,976 shares of the industrial products company’s stock worth $1,130,000 after buying an additional 472 shares during the period. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Worthington Enterprises Price Performance

WOR traded up $1.13 on Friday, reaching $59.33. The stock had a trading volume of 235,771 shares, compared to its average volume of 297,189. The company has a current ratio of 2.67, a quick ratio of 1.53 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.92 and a beta of 1.30. Worthington Enterprises, Inc. has a fifty-two week low of $45.01 and a fifty-two week high of $67.54. The firm has a 50-day moving average of $61.23 and a 200-day moving average of $56.84.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. The company had revenue of $343.89 million for the quarter, compared to analysts’ expectations of $331.26 million. Worthington Enterprises had a net margin of 11.50% and a return on equity of 16.71%. Worthington Enterprises’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, sell-side analysts anticipate that Worthington Enterprises, Inc. will post 3.90 EPS for the current year.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, December 15th. Worthington Enterprises’s dividend payout ratio (DPR) is presently 24.17%.

Insider Buying and Selling

In other news, major shareholder John McConnell sold 42,491 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $60.43, for a total value of $2,567,731.13. Following the completion of the sale, the insider directly owned 1,335,648 shares in the company, valued at $80,713,208.64. This trade represents a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

WOR has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price objective on shares of Worthington Enterprises from $67.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Weiss Ratings raised shares of Worthington Enterprises from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Worthington Enterprises Profile

Worthington Enterprises designs and manufactures products for building and construction, consumer markets, and sustainable energy applications. Its offerings include pressure cylinders used for propane, industrial gases, and other applications, as well as products for residential water systems and construction. The company’s consumer products include outdoor living and heating products, hand torches, and fuel cylinders. Its portfolio also includes equipment and components intended for applications such as compressed natural gas and hydrogen storage.