Jupiter Topco LLC Invests $780,000 in Worthington Enterprises, Inc. $WOR

Jupiter Topco LLC acquired a new stake in Worthington Enterprises, Inc. (NYSE:WOR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,522 shares of the industrial products company’s stock, valued at approximately $780,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jupiter Asset Management Ltd. acquired a new position in Worthington Enterprises in the fourth quarter valued at approximately $1,014,000. Summit Global Investments acquired a new stake in Worthington Enterprises during the second quarter worth approximately $969,000. De Lisle Partners LLP purchased a new stake in shares of Worthington Enterprises during the 2nd quarter worth approximately $4,748,000. Bailard Inc. purchased a new stake in shares of Worthington Enterprises during the 4th quarter worth approximately $707,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Worthington Enterprises in the 2nd quarter valued at $1,115,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Price Performance

Shares of NYSE WOR opened at $62.41 on Monday. The stock has a market cap of $3.05 billion, a P/E ratio of 19.88 and a beta of 1.30. Worthington Enterprises, Inc. has a twelve month low of $45.01 and a twelve month high of $66.47. The stock has a 50 day moving average of $56.44 and a two-hundred day moving average of $55.27. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The business had revenue of $371.46 million for the quarter, compared to analysts’ expectations 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 was up 16.9% on a year-over-year basis. During the same quarter last year, the business posted $1.06 earnings per share. On average, research analysts forecast that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s payout ratio is 24.20%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Worthington Enterprises news, major shareholder John McConnell sold 41,704 shares of Worthington Enterprises stock in a transaction on Friday, June 26th. The shares were sold at an average price of $55.85, for a total value of $2,329,168.40. Following the transaction, the insider directly owned 1,335,648 shares in the company, valued at approximately $74,595,940.80. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

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.