AlphaQuest LLC Purchases 9,831 Shares of Worthington Enterprises, Inc. $WOR

AlphaQuest LLC boosted its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 247.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,805 shares of the industrial products company’s stock after purchasing an additional 9,831 shares during the period. AlphaQuest LLC’s holdings in Worthington Enterprises were worth $766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WOR. EverSource Wealth Advisors LLC raised its position in shares of Worthington Enterprises by 693.6% during the second quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 541 shares during the period. Ameritas Advisory Services LLC bought a new stake in Worthington Enterprises during the 2nd quarter worth approximately $46,000. CWM LLC raised its holdings in Worthington Enterprises by 33.5% during the 2nd quarter. CWM LLC now owns 813 shares of the industrial products company’s stock worth $52,000 after buying an additional 204 shares during the period. Amplify Investments LLC lifted its stake in Worthington Enterprises by 27.7% in the third quarter. Amplify Investments LLC now owns 1,484 shares of the industrial products company’s stock valued at $82,000 after buying an additional 322 shares in the last quarter. Finally, Caldwell Trust Co acquired a new position in shares of Worthington Enterprises in the second quarter valued at approximately $112,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Worthington Enterprises Price Performance

NYSE:WOR opened at $56.84 on Wednesday. Worthington Enterprises, Inc. has a 52-week low of $39.05 and a 52-week high of $70.91. The company has a market cap of $2.82 billion, a P/E ratio of 26.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.26 and a current ratio of 3.26. The stock’s 50-day simple moving average is $54.09 and its 200 day simple moving average is $57.71.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, December 16th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $327.45 million for the quarter, compared to analyst estimates of $310.60 million. Worthington Enterprises had a net margin of 8.46% and a return on equity of 17.70%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. As a group, sell-side analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 35.85%.

About Worthington Enterprises

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.