Capstone Investment Advisors LLC Buys New Shares in Worthington Enterprises, Inc. $WOR

Capstone Investment Advisors LLC bought a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,541 shares of the industrial products company’s stock, valued at approximately $567,000.

Several other large investors also recently bought and sold shares of the stock. ProShare Advisors LLC raised its position in shares of Worthington Enterprises by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 6,114 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 189 shares in the last quarter. Parallel Advisors LLC increased its stake in Worthington Enterprises by 57.3% in the first quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 263 shares during the last quarter. Sei Investments Co. raised its holdings in Worthington Enterprises by 6.1% during the first quarter. Sei Investments Co. now owns 4,601 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 264 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Worthington Enterprises by 81.3% during the fourth quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 304 shares in the last quarter. Finally, Amplify Investments LLC lifted its position in shares of Worthington Enterprises by 21.4% during the 4th quarter. Amplify Investments LLC now owns 1,802 shares of the industrial products company’s stock worth $93,000 after buying an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

NYSE WOR opened at $57.47 on Friday. The business has a 50 day moving average price of $56.33 and a 200 day moving average price of $55.25. The company has a market capitalization of $2.81 billion, a P/E ratio of 18.30 and a beta of 1.28. Worthington Enterprises, Inc. has a 1-year low of $45.01 and a 1-year high of $67.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The business had revenue of $371.46 million for the quarter, compared to analysts’ expectations of $386.49 million. During the same quarter last year, the business posted $1.06 earnings per share. The business’s revenue was up 16.9% compared to the same quarter last year. Sell-side analysts expect that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s dividend payout ratio is 24.20%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Finally, Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

Insider Buying and Selling

In other news, major shareholder John P/Oh Mcconnell sold 17,625 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total transaction of $934,830.00. Following the transaction, the insider directly owned 1,335,648 shares in the company, valued at $70,842,769.92. This represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is owned by company insiders.

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.