Riverwater Partners LLC Acquires Shares of 24,004 Worthington Enterprises, Inc. $WOR

Riverwater Partners LLC acquired a new position in Worthington Enterprises, Inc. (NYSE:WOR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,004 shares of the industrial products company’s stock, valued at approximately $1,332,000.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Worthington Enterprises by 693.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 541 shares during the period. ORG Partners LLC lifted its stake in shares of Worthington Enterprises by 61.0% in the second quarter. ORG Partners LLC now owns 660 shares of the industrial products company’s stock worth $43,000 after buying an additional 250 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Worthington Enterprises during the second quarter valued at approximately $46,000. CWM LLC increased its position in shares of Worthington Enterprises by 33.5% during the second quarter. CWM LLC now owns 813 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 204 shares in the last quarter. Finally, Amplify Investments LLC raised its holdings in Worthington Enterprises by 27.7% in the 3rd quarter. Amplify Investments LLC now owns 1,484 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 322 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Worthington Enterprises Trading Up 0.7%

Shares of WOR stock opened at $53.37 on Tuesday. Worthington Enterprises, Inc. has a 1 year low of $39.05 and a 1 year high of $70.91. The firm has a fifty day moving average price of $53.93 and a 200-day moving average price of $58.04. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 25.17 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.26.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $310.60 million. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.46%.The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. As a group, equities analysts predict that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.4%. Worthington Enterprises’s dividend payout ratio is 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.