Louisiana State Employees Retirement System Buys New Position in Worthington Enterprises, Inc. $WOR

Louisiana State Employees Retirement System purchased a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,800 shares of the industrial products company’s stock, valued at approximately $720,000.

Several other hedge funds also recently made changes to their positions in WOR. Windsor Advisory Group LLC bought a new stake in shares of Worthington Enterprises in the third quarter worth $16,319,000. Keybank National Association OH bought a new stake in Worthington Enterprises during the 4th quarter worth about $10,749,000. LSV Asset Management acquired a new position in shares of Worthington Enterprises during the 4th quarter worth about $10,684,000. Arrowstreet Capital Limited Partnership increased its position in shares of Worthington Enterprises by 67.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company’s stock valued at $26,721,000 after acquiring an additional 193,319 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock valued at $17,656,000 after acquiring an additional 124,867 shares during the last quarter. 51.59% of the stock is owned by institutional investors.

Worthington Enterprises Stock Performance

Shares of NYSE:WOR traded down $0.63 during trading on Tuesday, reaching $53.94. 3,977 shares of the stock were exchanged, compared to its average volume of 214,298. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $67.80. The stock has a 50-day moving average price of $56.33 and a 200-day moving average price of $54.52. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.66 billion, a PE ratio of 17.18 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last released its quarterly 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). The firm had revenue of $371.46 million for the quarter, compared to analyst estimates of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 earnings per share. Research analysts expect that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.20 per share. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Worthington Enterprises’s payout ratio is 25.48%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WOR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research report on Monday, April 20th. Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Canaccord Genuity Group cut their price target on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Worthington Enterprises has an average rating of “Moderate Buy” and an average target price of $65.50.

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.