Nordea Investment Management AB Buys New Shares in Worthington Enterprises, Inc. $WOR

Nordea Investment Management AB purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 56,689 shares of the industrial products company’s stock, valued at approximately $2,914,000. Nordea Investment Management AB owned about 0.11% of Worthington Enterprises as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WOR. JPMorgan Chase & Co. raised its holdings in shares of Worthington Enterprises by 43.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 77,110 shares of the industrial products company’s stock valued at $4,279,000 after buying an additional 23,312 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in Worthington Enterprises in the third quarter worth approximately $256,000. OmniStar Financial Group Inc. bought a new position in Worthington Enterprises during the third quarter valued at approximately $253,000. Jacobs Levy Equity Management Inc. grew its position in Worthington Enterprises by 11.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 97,360 shares of the industrial products company’s stock valued at $5,403,000 after acquiring an additional 9,672 shares during the last quarter. Finally, SHUTTLEWORTH & Co purchased a new position in shares of Worthington Enterprises during the third quarter worth approximately $226,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WOR has been the subject of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Worthington Enterprises in a research note on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Worthington Enterprises currently has a consensus rating of “Hold” and a consensus price target of $61.00.

Worthington Enterprises Price Performance

Shares of Worthington Enterprises 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 one year low of $43.35 and a one year high of $70.91. The business’s 50 day simple moving average is $53.79 and its two-hundred day simple moving average is $55.03. The stock has a market capitalization of $2.51 billion, a P/E ratio of 22.54 and a beta of 1.32.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share 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 firm had revenue of $378.68 million during the quarter, compared to analyst estimates of $349.41 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. Analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS 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 given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 1.5%. Worthington Enterprises’s dividend payout ratio is presently 33.78%.

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.