Frazier Financial Advisors LLC Takes Position in Worthington Enterprises, Inc. $WOR

Frazier Financial Advisors LLC bought a new position in Worthington Enterprises, Inc. (NYSE:WOR) during the second quarter, Holdings Channel.com reports. The fund bought 15,606 shares of the industrial products company’s stock, valued at approximately $839,000. Worthington Enterprises comprises approximately 0.4% of Frazier Financial Advisors LLC’s investment portfolio, making the stock its 24th biggest holding.

Several other institutional investors have also recently made changes to their positions in WOR. Royal Bank of Canada increased its holdings in Worthington Enterprises by 4.5% during the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock valued at $650,000 after buying an additional 554 shares during the period. AQR Capital Management LLC acquired a new position in Worthington Enterprises during the 1st quarter valued at about $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Worthington Enterprises by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock valued at $937,000 after buying an additional 793 shares during the last quarter. Millennium Management LLC raised its stake in 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 buying an additional 124,867 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Worthington Enterprises by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after purchasing an additional 7,575 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Trading Up 0.9%

Shares of WOR stock opened at $57.52 on Thursday. The company’s 50-day moving average price is $56.66 and its 200-day moving average price is $55.24. Worthington Enterprises, Inc. has a twelve month low of $45.01 and a twelve month high of $67.80. 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 cap of $2.81 billion, a price-to-earnings ratio of 18.32 and a beta of 1.28.

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

Worthington Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 15th. Worthington Enterprises’s dividend payout ratio (DPR) is 24.20%.

Insiders Place Their Bets

In related news, major shareholder John P/Oh Mcconnell sold 41,704 shares of Worthington Enterprises stock in a transaction that occurred 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 completion of the transaction, the insider 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WOR has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Wall Street Zen cut Worthington Enterprises from a “buy” rating to a “hold” rating in a research 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 research note on Thursday, June 25th. Two equities research 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, Worthington Enterprises presently 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.