Nordea Investment Management AB Invests $2.91 Million in Worthington Enterprises, Inc. $WOR

Nordea Investment Management AB bought a new position in Worthington Enterprises, Inc. (NYSE:WOR) during the 4th quarter, Holdings Channel reports. The fund bought 56,689 shares of the industrial products company’s stock, valued at approximately $2,914,000.

A number of other hedge funds also recently bought and sold shares of the business. Hantz Financial Services Inc. increased its holdings in shares of Worthington Enterprises by 61.0% in 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 in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Worthington Enterprises by 2.0% during the third quarter. Fifth Third Bancorp now owns 13,557 shares of the industrial products company’s stock valued at $752,000 after purchasing an additional 267 shares in the last quarter. Illinois Municipal Retirement Fund lifted 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 valued at $914,000 after purchasing an additional 279 shares in the last quarter. Daymark Wealth Partners LLC boosted its position 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 valued at $266,000 after buying an additional 300 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Worthington Enterprises by 3.5% in the 3rd quarter. Amalgamated Bank now owns 9,131 shares of the industrial products company’s stock worth $507,000 after buying an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

WOR stock opened at $50.71 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.36 and a quick ratio of 2.26. Worthington Enterprises, Inc. has a 1 year low of $43.35 and a 1 year high of $70.91. The company has a market cap of $2.51 billion, a P/E ratio of 22.54 and a beta of 1.32. The stock’s fifty day moving average price is $53.79 and its 200-day moving average price is $55.03.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.The company had revenue of $378.68 million during the quarter, compared to analysts’ expectations of $349.41 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. Worthington Enterprises’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid 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 is Monday, June 15th. Worthington Enterprises’s payout ratio is currently 33.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $69.00 target price on shares of Worthington Enterprises in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.00.

Worthington Enterprises Company 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.