Legato Capital Management LLC Makes New $883,000 Investment in Worthington Enterprises, Inc. $WOR

Legato Capital Management LLC purchased a new stake in Worthington Enterprises, Inc. (NYSE:WOR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,911 shares of the industrial products company’s stock, valued at approximately $883,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Worthington Enterprises by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,753,434 shares of the industrial products company’s stock worth $208,278,000 after buying an additional 15,894 shares during the period. American Century Companies Inc. raised its position in Worthington Enterprises by 23.0% in the 2nd quarter. American Century Companies Inc. now owns 1,010,730 shares of the industrial products company’s stock valued at $64,323,000 after buying an additional 188,783 shares during the last quarter. Geode Capital Management LLC lifted its stake in Worthington Enterprises by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 733,238 shares of the industrial products company’s stock valued at $46,670,000 after acquiring an additional 8,293 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Worthington Enterprises by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 408,990 shares of the industrial products company’s stock worth $26,028,000 after acquiring an additional 3,248 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Worthington Enterprises by 54.9% during the 1st quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after acquiring an additional 124,867 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

Shares of WOR stock opened at $53.69 on Wednesday. The company has a fifty day moving average price of $54.93 and a two-hundred day moving average price of $56.91. Worthington Enterprises, Inc. has a one year low of $39.05 and a one year high of $70.91. The stock has a market cap of $2.66 billion, a P/E ratio of 25.33 and a beta of 1.32. 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 (NYSE:WOR) last released its quarterly earnings data 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). Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.46%.The firm had revenue of $327.45 million for the quarter, compared to analyst estimates of $310.60 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities analysts predict that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 1.4%. Worthington Enterprises’s dividend payout ratio is currently 35.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WOR. Wall Street Zen upgraded shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Canaccord Genuity Group decreased their target price on shares of Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Worthington Enterprises has an average rating of “Hold” and a consensus price target of $61.00.

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.