5,271,058 Shares in Worthington Enterprises, Inc. $WOR Bought by BlackRock Inc.

BlackRock Inc. acquired a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the 2nd quarter, HoldingsChannel reports. The firm acquired 5,271,058 shares of the industrial products company’s stock, valued at approximately $283,372,000. BlackRock Inc. owned about 0.11% of Worthington Enterprises at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Worthington Enterprises by 872.0% in the 4th quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 436 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Worthington Enterprises during the first quarter worth about $25,000. McMillan Office Inc. purchased a new position in Worthington Enterprises during the fourth quarter worth about $31,000. Farther Finance Advisors LLC grew its position in Worthington Enterprises by 81.3% in the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 304 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Worthington Enterprises by 57.3% in the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 263 shares in the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WOR has been the topic of several recent analyst reports. Wall Street Zen cut shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Canaccord Genuity Group decreased their price target on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Worthington Enterprises Trading Up 1.2%

NYSE:WOR opened at $57.98 on Thursday. 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 stock has a market capitalization of $2.84 billion, a PE ratio of 18.46 and a beta of 1.28. The firm’s 50 day moving average is $56.43 and its 200 day moving average is $55.25. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $67.80.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data 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). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The firm had revenue of $371.46 million for the quarter, compared to the consensus estimate of $386.49 million. During the same period last year, the company posted $1.06 earnings per share. Worthington Enterprises’s revenue for the quarter was up 16.9% on a year-over-year basis. Sell-side analysts expect that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.20 dividend. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.4%. Worthington Enterprises’s payout ratio is 24.20%.

Insiders Place Their Bets

In related news, major shareholder John P/Oh Mcconnell sold 17,625 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total value of $934,830.00. Following the sale, the insider directly owned 1,335,648 shares in the company, valued at approximately $70,842,769.92. The trade was a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

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.